“Gold or silver findings” means a small component like hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of jewellery.
The government has increased import duties on gold and silver finding and coins to 15%, including basic custom duty and ADIC. The new rates will be effective January 22. The government also increased import duties on silver dore, bars, and articles to align with gold and platinum import duties.
Gold Silver Import Duty: The government has increased import duties on gold and silver finding and coins to 15%, including basic custom duty and ADIC. The new rates will be effective January 22. The government also increased import duties on silver dore, bars, and articles to align with gold and platinum import duties.
The Gem & Jewellery Export Promotion Council (GJEPC) recently sought a reduction in import duty on Gold Bar (7108) from 15 percent to 4 percent to clear duty blockage worth around Rs 982.16 crore, which could help create more working capital for the industry.