NEW DELHI : With global prices of yellow metal looking up, the government today raised import tariff value of gold to 401 dollars per ten grams, implying the net customs on import would increase.
The import tariff value of gold was 396 dollars per ten grams a fortnight ago and 388 dollars per ten grams on December 1, 2014, according to a notification of the Central Board of Excise and Customs. For silver the new import tariff value has been fixed at 543 dollars a kg.
The import tariff value is the base price at which customs duty is calculated for imports and is revised on a fortnightly basis in sync with the global prices of the commodities. Gold is trading well above 1200 dollars per ounce as a safe haven for investors.
Likewise, new exchange rates for imports and exports of different currencies have also been notified. (AGENCIES)
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