BREAKING NEWS
Chikkamagaluru: At least 30 injured after tourist mini bus overturns near Datta Peetha
IPL 2024: Gujarat Titans post 200 for 3 against RCB
Water supply disruption: Several areas in Mangalore to face cut-off from April 30 to May 1
Siddaramaiah holds dharna protesting Centre’s ‘injustice’ in release of drought relief to Karnataka
Mangaluru: 2 trucks collide at Baikampady; driver hospitalised
Archery WC: Indian men’s team upset Olympic champions Korea to bag historic gold after 14 years
Sanju Samson says mistakes can happen in T20 cricket, but Rajasthan Royals must stick with processes
With impact player, it is getting difficult each and every day: Pant
McGurk, Stubbs rock as DC beat MI by 10 runs
BJP drops Poonam Mahajan, picks 26/11 prosecutor Ujjwal Nikam from Mumbai North Central seat
Prabhas, Deepika’s ‘Kalki 2898-AD’ gets new release date
Delhi Capitals post 257/4 against Mumbai Indians
Three women from India killed in US car crash; their Gujarat village holds prayer meeting
Congress accuses CPI(M) of hijacking poll machinery to bring down polling percentage
IPL betting racket busted; three men held, search on for another
Govt hikes gold import duty to 15 pc
PTI, Jul 1, 2022, 11:28 AM IST
Representative image (Source: FreePik)
New Delhi: The government has hiked gold import duty to 15 percent from 10.75 percent to check the current account deficit (CAD) and rising import of the yellow metal.
The duty changes came into effect on June 30.
Earlier, the basic customs duty on gold was 7.5 percent, now it will be 12.5 percent. Along with the agriculture infrastructure development cess (AIDC) of 2.5 percent, the effective gold customs duty will be 15 percent.
There has been a sudden surge in imports of gold. In May, a total of 107 tonnes of gold was imported and in June also the imports have been significant. The surge in gold imports is putting pressure on the current account deficit, the finance ministry said.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Have only resigned as Delhi Congress chief, not joining any political party: Arvinder Singh Lovely
BJP’s Manifesto promises developed India, Congress’s Manifesto fosters division: Rajnath Singh
Congress urges ECI to probe ‘terrible mismanagement’ of Lok Sabha polls in Kerala
India will become world’s third largest economy irrespective of who is PM: Chidambaram
Kerala braces for sweltering heat: IMD issues warning for 12 districts
MUST WATCH
Latest Additions
Chikkamagaluru: At least 30 injured after tourist mini bus overturns near Datta Peetha
Elon Musk in Beijing amid efforts to promote Tesla’s autonomous driving tech
IPL 2024: Gujarat Titans post 200 for 3 against RCB
‘Shehzada’ insulted Maharajas but silent on atrocities by Nawabs: PM’s attack on Rahul Gandhi
Samantha Ruth Prabhu announces new film ‘Bangaram’ on her birthday