Base Import
Govt cuts base import price of gold by $2/10 gm, silver by $22/kg
This story was originally published at 11:05 IST on 16 October 2024
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MUMBAI – The government has cut the base import price of gold by $2 to $855 per 10 gm, according to a notification by the Central Board of Indirect Taxes and Customs on Tuesday. The base import price of silver was lowered by $22 to $1,016 per kg. The base import prices of gold and silver were last revised on Sept. 30.
The government revises base import prices of gold and silver every fortnight and these are used to calculate the duty on gold and silver that individuals bring into the country. India is the world's biggest importer of silver and the second-biggest importer and consumer of gold. End
US$1 = 84.05 rupees
Reported by J. Navya Sruthi
Edited by Avishek Dutta
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