Govt raises duty drawback rates on gold, silver jewellery
This story was originally published at 19:57 IST on 25 August 2025
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NEW DELHI – The government Monday increased the duty drawback rates on select gold and silver jewellery to provide partial relief to jewellery exporters amid rising bullion prices. The duty drawback rate on gold jewellery has been increased to INR 466.76 per gram of net gold content from INR 405.40 per gm, according to a finance ministry notification.
The rate on silver jewellery and other silver items has been raised to INR 5,234.00 per kg to INR 4,950.03 per kg, ensuring consistent rates across silver products.
The government had raised the duty drawback rates for gold and silver in April, having sharply cut them in August 2024 after gold and silver customs duties were reduced to 6% and 15%, respectively, in the Budget for 2024-25 (Apr-Mar).
Gold prices have risen in recent months. Gold prices rose to around INR 100,508 per 10 grams on Monday on the Multi Commodity Exchange of India. Gold prices were around INR 95,895 per 10 grams in April, when the government last raised the drawback duty.
Duty Drawback is a World Trade Organization vetted scheme administered by the Central Board of Indirect Taxes and Customs to promote exports. It rebates the incidence of customs and excise duties, chargeable on imported and excisable materials respectively, when used as inputs for goods to be exported. The hike in the duty may aid exporters to see improved refund inflows, revise export prices and renegotiate contracts. End
Reported by Shubham Rana
Edited by Deepshikha Bhardwaj
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