sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Customs and Excise »
 Central Board of Excise and Customs to be renamed CBIC by April
 Central Board Of Excise & Customs New Delhi GST Flyers
 Hike in customs duty on electronics likely to boost revenue collection
 Customs duty raised on electronic goods
 Ministry Of Finance (Central Board Of Direct Taxes) Notification
 Refund of IGST paid on export of goods under rule 96 of CGST Rules,2017
 Customs And Central Excise Drawback – Part II
 Customs Valuation (Determination of Value of Imported Goods) Rules 2007
 Amendment to Customs Valuation Rules – Notification No. 91/2017 (NT)
 GST on Custom House Agents
 The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes

Import duty on gold findings slashed to four per cent
September, 21st 2012

The government has lowered the customs duty on gold findings to 4 per cent from 10 per cent, a development which the industry says will promote jewellery exports.

The Central Board of Excise and Customs (CBEC) has lowered the import duty on gold bars, gold coins having gold content not below 99.5 per cent and gold findings, other than imports of such goods through post, courier or baggage.

Gold findings are small component such as hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of jewellery in place.

The high duty on findings had started depicting an adverse effect on the total export of jewellery from the country, Gem and Jewellery Export Promotion Council (GJEPC) Chairman Rajiv Jain said, while welcoming the government decision to reduce the import duty to 4 per cent.

Gems and jewellery exports accounted for 14 per cent of the total exports earnings of the country, Mr. Jain said.

The import duty on gold findings has been increasing over the last two years.

In the Union Budget for 2010-11, first, it was increased from Rs.500 to Rs.750 per 10grams.

The same was increased on January 16, 2012, from Rs.750 per 10 grams to 5 per cent which was subsequently increased to 10 per cent in the 2012-13 Budget.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions