India raises import tariff value on Gold to $388/10 grams

Mumbai-India (Apr 16)  The government has further raised the import tariff value on gold to $388 per 10 grams, latest notification from the Ministry of Finance showed on Thursday.

The import tariff value of gold was $385 per 10 grams a fortnight ago.

For silver the new import tariff value has been fixed at $524 per kilogram, lowered from $543 per kg earlier.

The import tariff value is the base price at which customs duty is determined to prevent under-invoicing. It is revised on a fortnightly basis taking into account global prices.

Source: BullionStreet