India doubles gold customs duty to 10%, total tax hits 18.45% as DGFT caps exporter imports at 100kg
Government raised basic customs duty on gold from 6% to 10% and lifted AIDC five-fold to 5%, pushing total tax incidence to 18.45%. DGFT capped duty-free jewellery-exporter imports at 100kg. Domestic 22K gold at ₹14,895/gm; spot discounts widened past USD 200/oz as physical demand cooled.
India doubled gold customs duty to 10% and hiked AIDC five-fold, lifting total tax incidence to 18.45%. DGFT capped duty-free jewellery-exporter gold imports at 100 kg. Domestic prices rose; spot discounts hit record USD 200/oz as physical demand softened.
Why this matters
Follows Modi's gold import curb push amid forex and rupee slide, and an earlier hike taking gold-silver duty to 15%. Latest move sharpens import compression to defend the rupee.
Retail-company signals steady at 272 over the last 90 days.