Budget 2023 : CBIC Amend notification No. 57/2000-Customs which exempts gold, silver and platinum imported under specified schemes


Quick Summary
The Central Board of Indirect Taxes and Customs (CBIC) has amended Notification No. 57/2000-Customs, reducing the customs duty on imported gold, silver, and platinum under specified schemes. Effective from 2nd February 2023, the duty has been revised from 11.85% and 6.1% to a new rate of 9.35%.

GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 09/2023-Customs New Delhi, dated the 1st February, 2023 G.S.R.(E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisf
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FAQ :

The customs duty rates on imported gold, silver, and platinum under specified schemes have been reduced.

Notification No. 57/2000-Customs has been amended.

The new customs duty rate is 9.35%, replacing the previous rates of 11.85% and 6.1%.

These changes come into effect on the 2nd of February, 2023.

The amendment has been issued by the Central Government under the powers conferred by the Customs Act, 1962.

 

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Notification No : 09/2023-Customs
Published in Custom
Source : https://www.indiabudget.gov.in/doc/cen/cus0923.pdf

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