CBIC imposes Additional Duty on import of gold or silver falling under entry 7112, 7113 and 7118
Notification No. 05/2024 – Customs dated 22nd January 2024
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), read with section 124 of the Finance Act, 2021 (13 of 2021), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 11/2021 – Customs, dated the 1st February, 2021, published in the Gazette of India, Extraordinary, Part II, Section 3,Sub-section (i), vide number G.S.R. 69(E), dated the 1st February, 2021, namely:-
In the said notification, in the Table, after Sl. No. 15D and the entries relating thereto, the following Sl. Nos. and entries shall be inserted, namely
|
(1) |
(2) |
(3) |
(4) |
|
“15E |
7112 |
Spent catalyst or ash containing precious metal |
4.35% |
|
15F |
7113 |
Gold or silver findings Explanation: For the purposes of this entry, “gold or silver findings” means a small component such as hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of jewellery in place |
5% |
|
15G |
7118 |
Coins of precious metals |
5% |