Despite of festive season of Diwali this week. Govt has hiked the tariff value of Gold import.
The tariff value; base rate at which the gold is imported stood at $418 per 10 grams yesterday, and has been raised to $442 per 10 grams today. The tariff value on other imports such as silver is unchanged, which stood at $699 per kg.
CBEC(Central Board of Excise and Custom) in congruence with the Govt of India took this step in order to curb the import of the yellow metal in India. India has been one of highest importers of Gold in April- September this year.