Page 42 - Bollion World Volume 4 Issue 8 August 2024

Bullion World | Volume 4 | Issue 8 | August 2024

Understanding the Taxation

of Gold Investments

Old Import Revised Import
Precious Metals
Duty % Duty %
Gold bar 15 6

Gold dore 14.35 6.35

SIlver bar 15 6

SIlver dore 14.35 6.35

Platinum, Palladium, Osmium, Ruthenium, Iridium 15.4 6.4

Coins of precious metals 15 6

Gold/Silver findings 15 6

Platinum and palladium use in the manufacture of noble metal 7.5 5
solutions, noble metal compounds and catalytic convertors
Bushings made of platinum and rhodium alloy when imported in 7.5 5
exchange of worn out or damaged bushings exported out of India

Reduction in Duty on Gold and Silver from 15% to 6%

Agriculture Infrastrucre
Basic Customs and Development Cess Total DUty
Duty (BCD) Stucture Net Change
(AIDC)
Old New Old New Old New
Gold Bars 10% 5% 5.00% 1.00% 15.00% 6.00% 9% (Rs 5900/10
gm) lower
Gold Dore 10% 5% 4.35% 0.35% 14.35% 5.35%

Silver Bars 10% 5% 5.00% 1.00% 15.00% 6.00% 9% (Rs 7600 /
kg) lower
Silver DOre 10% 5% 4.35% 0.35% 14.35% 5.35%

Platinum 10% 5% 5.40% 1.40% 15.40% 6.40% 9% lower

Corresponding effect on duties under CEPA

Commodity
Direct Import Imports Under CEPA

Duty DUty
Gold Bars 6% 5%

Silver Bars/Gains 6% 8%

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