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Import tariff value of gold hiked

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The government, on Tuesday, raised the import tariff value of gold to $436 from $432 per 10 grams, while reducing it to $702 on imported silver from $736 a kg. The tariff value is the base price at which the customs duty is determined to prevent under-invoicing. Besides bullion, the government has raised the import tariff value of brass scrap to $3,860 and crude palm oil to $883 from $3,717 a per tonne and $827 a tonne, respectively. However, the import tariff value of poppy seed has been reduced to $2,556 from $2,717 a tonne, while the tariff value for RBD palmolein was cut to $862 from $883 a tonne. The tariff value of arecnut has been kept unchanged at $1,870 a tonne. — Special Correspondent


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