10-03-2022 08:55 PM | Source: Reuters
India raises import duty on platinum to 15.4%
MUMBAI (Reuters) - India has raised total import duty on platinum to 15.4% from 10.75%, the government said in a notification on Monday, seeking to bring parity in import duty structure between gold and platinum.
In July, New Delhi raised import duty on gold to 15% but then kept the tax on platinum imports unchanged at 10.75%.
India's platinum imports in September jumped multifold to a record high as refiners imported a large amount of gold containing small amounts of platinum but registered the purchases with customs as platinum alloy to avoid paying higher duties.
Latest News
Problem of high food inflation will be `less severe`...
Buy Mahindra & Mahindra Ltd For Target Rs. 1,850 - J...
Audi hikes prices by up to 2 pc across its model ran...
Kotak Mahindra Bank tumbles after RBI bars Bank from...
Delta Corp inches up on incorporating wholly owned s...
Sector Update Pharma : Opportunity from new approval...
Madhav Infra Projects touches roof on getting LoI wo...
m.Stock trading app by Mirae Asset breaks into Top 1...
Views on LTIMindtree Ltd Q4FY24 Result by Dhruv Muda...
Rupee depreciates against US dollar on Thursday