Government increases import duty on gold, silver findings, precious metal coins to 15 per cent

The government has announced an increase in import duties on gold and silver findings, as well as precious metal coins, to a total of 15 per cent. This includes a Basic Customs Duty (BCD) of 10 per cent and an additional 5 per cent under the All Industry Duty Drawback (AIDC), with an exemption from the Social Welfare Surcharge (SWS). For spent catalysts containing precious metals, the import duty has been raised to 14.35 per cent. This comprises a 10 per cent. Basic Customs Duty (BCD) and an additional 4.35 per cent under the All Industry Duty Drawback (AIDC), with…