India exempted certain RBI gold imports from 15% customs duty.
India exempted select gold imports by the RBI from customs duty, providing a concession on gold imports that typically have a 15% tax. The Reserve Bank of India can now import gold without paying import levies, including customs duty and Agriculture Infrastructure and Development Cess. India is the world's second-largest gold consumer, and the RBI held 800.79 metric tonnes of gold as of September 2023.
March 13, 2024
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