Govt received INR-100.40-bln revenue as on Aug 2 post gold import duty hike
This story was originally published at 14:10 IST on 10 August 2026
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--Govt: Got INR 100.40 bln revenue as on Aug 2 post gold import duty hike
--Govt: Got INR 3.28 bln revenue as on Aug 2 post silver import duty hike
MUMBAI – The government collected revenue worth INR 100.40 billion on import of gold after hiking import duty on the yellow metal on May 13, Minister of State for Finance Pankaj Chaudhary said in a written response to a question in Lok Sabha Monday. The Centre recieved revenue worth INR 3.28 billion from import of silver as on Aug. 2, he added.
In a bid to dissuade people from buying gold and curb imports of precious metals, the government May 12 imposed a 10% basic customs duty and 5% Agriculture Infrastructure and Development Cess on gold and silver imports, raising the effective import tax to 15% from 6%. The government has seized 160.91 kilogram gold since May 13 till Jun. 30, with 116 people arrested in 287 cases, he said.
The government also increased the import duty on platinum to 15.4% from 6.4%. Chaudhary said the government collected INR 950 million from import of platinum following the hike in duty till as on Aug. 2. End
Reported by Pratiksha
Edited by Akul Nishant Akhoury
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