India increases import value of Gold and Silver

New Delhi, 16 June-2014, IANS: The government Monday increased import value of gold to $411 per 10 grams and for silver to $632 per kilogram due to a jump in the prices in the global markets.

India increases import value of Gold and Silver

India increases import value of Gold and Silver

In the first fortnight of June the import value of gold was $408 per 10 grams and silver was $617 per kilogram.

The government revises the import tariff value of gold, silver and other products every fortnight taking into account the volatility in the global markets.

Customs duty on the import of these products depends on the import tariff value, which is considered the base price.