NEW DELHI: Taking cue from global price trends, the government reduced the import tariff value of gold to $385 per 10 grams.
The import tariff on silver has also been cut to $544 per kg.
During last fortnight, the tariff value on imported gold was $398 per 10 grams and on silver at $567 per kg. 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.