Govt cuts tariff value of gold

New Delhi, June 30 – The government on Saturday slashed the import tariff value of gold at $401 per ten grams and that of silver to $604 per kg as prices of the precious metals fell in the international market.

 

Tariff value – the base price on which the customs duty is determined to prevent under-invoicing — of gold and silver stood at $421 per 10 gram and $606 per kg, respectively earlier.

 

The notification, issued by the Central Board of Excise and Customs ( CBEC), has come a day after gold prices fell by Rs 1,150 to hit 23-month lows of Rs 25,650 per 10 grams in the national capital tracking weak global cues.

 

TOI