India hikes duties on gold, silver to curb imports

New Delhi, August 13 : The Indian government Tuesday hiked customs duties on gold, platinum and silver to curb imports to help lower the current account deficit.

Customs duty on gold and platinum has been increased to 10 percent from eight percent. The duty on silver has been hiked to 10 percent from six percent, a finance ministry statement said.

Notifications for the new duty structure was tabled in parliament on Tuesday.

--IANS (Posted on 13-08-2013)

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