Category: Gold

Feb 05

Gold and silver jewellery to get a lot more expensive

Jewellery is set to get a lot more expensive, as customs duty on precious metals, articles of gold, silver and platinum and costume jewellery has been increased in the Union Budget presented by Finance Minister Nirmala Sitharaman on Wednesday. To make matters worse, basic customs duty has been hiked on articles made from gold bars.Apart from these, customs duty on electric kitchen chimneys, bicycles, toys, electric vehicles and cigarettes also increased. “I also propose to increase the import duty on Read Full Details…

Feb 01

Government must look at reducing import duty on gold in Budget 2023 to boost performance

For December 2022, the total gross export of Gold Jewellery (Plain & Studded) a decline of 4.55% to Rs 4,635.64 crores (declined 12.62% in dollar terms to $562.48 million) as compared to Rs 4,856.47 crores ($643.74 million) for the same period last year. For the month of December 2022, the total gross export of all kinds of Studded Gold jewellery declined 21.95% to Rs 2,265.90 crores (declined 28.51% in dollar terms to $275.03 million) as compared to Rs 2,903.01crores ($384.69 Read Full Details…