Gold and Silver Findings to Attract 5% Customs Duty

The Ministry of Finance has updated customs duty rates on precious metals and related findings through Notification No. 16/2026-Customs, with the revised rates coming into effect from May 13.

Under the new notification, findings made of Gold and Silver will attract a customs duty of 5 per cent, while findings made of Platinum will be subject to a duty rate of 5.4 per cent.

The ministry also announced that precious metal spent catalysts would attract a customs duty of 4.35 per cent, subject to the fulfilment of prescribed compliance requirements.

Industry experts believe the revised duty structure could impact the jewellery manufacturing sector, import costs, and pricing trends in the bullion market. The move is also expected to streamline tariff classifications and align import regulations with current trade and revenue considerations.

The notification forms part of the government’s ongoing efforts to regulate the import of precious metals and maintain balance in the domestic bullion and jewellery industry.