The decision to raise import duty on gold in the Union Budget was taken after a careful consideration, including its likely impact on smuggling of the yellow metal, a top government official said.
The gems and jewellery exporters on Saturday expressed disappointment over a significant increase in the import duty on gold and other precious metals saying the move would result in shifting of businesses to neighboring countries.
The gold industry on Friday unanimously slammed the steep hike in import duty of gold and precious metals from 10 per cent to 12.5 per cent, saying it will backfire and hit the Indian retail market.
New Delhi, Jun 5 : With spiralling gold imports putting huge pressure on the current account deficit, government tonight hiked the import duty on the metal to 8 per cent, up by 2 per cent,
New Delhi, Apr 6: Amid widespread protests by jewellers against an increase in import duty on gold and excise duty on unbranded jewellery, Congress today asked the government to consider their demands sympathetically. “Congress has
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