Budget 2024-25: FM Proposes to Reduce Customs Duty on Gold and Silver [Read Bill]

A reduction in Basic Customs Duty on gold and silver can lead to lower consumer prices, enhanced competitiveness of the jewellery industry, economic growth, increased formal investments, reduction in smuggling, and potential shifts in government revenue dynamics.
By Yogitha S. Yogesh - On July 23, 2024 2:17 pm - 2 mins read
Budget 2024 insights - Budget 2024 coverage - Union Budget 2024 - Budget 2024 tax changes - Gold and Silver - Budget Gold and Silver - taxscan

The Union Finance Minister Nirmala Sitharaman presented the full – budget 2024 today before the parliament at 11 am. To enhance domestic value addition in gold and precious metal jewellery in the country, the FM proposed to reduce customs duties on gold and silver to 6 per cent and that on platinum to 6.4 per…

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