June 08, 2012 02:40 am | Updated 02:40 am IST - NEW DELHI:
In line with the global spike in bullion prices, the government, on Thursday, raised the import tariff value of gold to $531 per 10 grams from $507 for May. The tariff value for silver imports was kept unchanged at $899 a kg.
Released fortnightly, the tariff value on precious metals, such as gold and silver, is the base price on which customs duty is levied to prevent under-invoicing. The changes were effected through a notification by the Central Board of Excise and Customs here.
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