CNS News Desk May 13th: The Centre has increased the import duty on gold and silver from 6% to 15% to curb non-essential imports and support the rupee amid global economic uncertainty.
The revised structure includes a 10% Basic Customs Duty and a 5% Agriculture Infrastructure and Development Cess (AIDC), effective from May 13.
The move comes amid concerns over rising oil prices and a widening trade deficit due to the West Asia conflict. Experts say gold and silver prices may rise further in the domestic market.
