Bitter news for Gold buyers, Central Govt. increased import duty on Gold
01-07-2022 Fri 21:05
According to a government notice dated June 30, India has increased the basic import duty on gold from 7.5 to 12.5%. This action has been made to lessen the flow of gold into the country that ranks second in the world for precious metal consumption, The overall tax on gold would be 15.75% after the current 5% increase in import duty, which is made up of a 12.50% base import duty, a 2.5% agro cess, and a 0.75% social welfare surcharge.
According to analysts, this action will increase the price of gold domestically, increasing the cost to consumers. "The government has taken this action to reduce imports and keep the import-export basket balanced. According to the finance ministry, the current account deficit is being put under pressure by the spike in gold imports.
More Latest Video News
9 PM Telugu News: 10th August 2022
9 PM Telugu News Headlines Dated 10th August 2022:-* In response to the contentious video of Gorantla Madhav, Anantapur SP Fakkirappa said that they could only send the video to the forensic lab..
Telangana: IB warns of terrorist attacks around I-Day
Prior to Independence Day, Intelligence Bureau (IB) authorities issued a warning about a potential danger from terror groups in strategic parts of the nation, including state capitals.All states, including Telangana police, have received..
Sunil Bansal new BJP in-charge for Telangana
Sunil Bansal, the general secretary of the BJP in the state of Uttar Pradesh, has been named the party's national general secretary. He is now in charge of the states of West Bengal, Telangana,..
LIVE: MP Gorantla Madhav press meet
On Wednesday, YSRCP MP Gorantla Madhav responded to the viral social media video as though he had an inappropriate video call with a woman. After Anantapur district SP Fakirappa announced that it had become..