Vanshika verma | May 13, 2026 |
![Gold and Silver to Become Expensive After Government Raises Import Duty [Read Notification]](/cdn-cgi/image/fit=contain,format=webp,gravity=auto,metadata=none,quality=80,width=1200,height=730/wp-content/uploads/2026/05/Gold-and-Silver-Imports-to-Become-Expensive-After-Government-Raises-Import-Duty.jpg)
Gold and Silver to Become Expensive After Government Raises Import Duty [Read Notification]
The government of India, using its legal powers under the Customs Act, 1962, and the Finance Acts of 2018 and 2021, officially increased the import duty levied on gold, silver, and other precious metals to 15%.
Apart from this, it has also imposed a 10% basic customs duty and a 5% Agriculture Infrastructure and Development Cess (AIDC). The Central Government believes these changes are needed in the public interest.
The government has also raised the import duty on gold brought in from the United Arab Emirates under the fixed-quantity quota system, which previously benefited from lower concessional duty rates.
This move follows Prime Minister Narendra Modi’s appeal two days earlier, asking citizens to refrain from buying gold for a year as the country’s foreign exchange reserves face pressure amid the West Asia conflict.
The move is expected to make imports costlier. The revised duty structure will be effective from 13th May 2026.
These changes were made through the Ministry of Finance (Department of Revenue), which recently issued a notification (No. 16/2026-Customs) dated May 12, 2026.
For complete information, refer to the following notification:
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