BRIC Team reports: Gold, Silver imports to cost more after customs duty, cess hike: Details hereWith this increase, the total duty on gold and silver now stands at 10% from 6% earlier. Platinum, and related precious metal products, including hooks, clasps, clamps, pins and screw backs used in manufacturing, will also have a 10% duty.By CNBCTV18.com May 13, 2026, 6:46:09 AM IST (Updated)2 Min ReadA central government notification late-Tuesday night disclosed that the government has increased the basic customs duty on imports of gold, silver and other precious metals. The revised rates have already come into effect from midnight and spans across precious metals, jewellery findings and industrial imports.
With this increase, the total duty on gold and silver now stands at 10% from 6% earlier. Platinum, and related precious metal products, including hooks, clasps, clamps, pins and screw backs used in manufacturing, will also have a 10% duty. Apart from the increase in customs duty from 6% to 10%, the government has also imposed a 5% Agriculture Infra & Development Cess on these gold and silver imports.
Background
This takes the total effective duty rate to 15% from 6% earlier. The notification amends the earlier customs notifications issued in 2000, 2018, 2021 and 2025. Duty provisions for imports of spent catalysts or ash containing precious metals used for recovery and recycling purposes has also been raised to 10% subject to specified conditions.
Key facts
- Gold, Silver imports to cost more after customs duty, cess hike: Details hereWith this increase, the total duty on gold and silver now stands at 10% from 6% earlier.
- The revised rates have already come into effect from midnight and spans across precious metals, jewellery findings and industrial imports.
- With this increase, the total duty on gold and silver now stands at 10% from 6% earlier.
What this means
In a speech on Sunday in Hyderabad, Prime Minister Narendra Modi urged citizens to curb usage of fuel, use public transport, avoid foreign travel and not purchase gold for a one-year period. India's Gold imports in financial year 2026 increased to a record $71.98 billion, up 2% from the previous year. India's jewellery stocks have been under selling pressure over the last two days, with companies such as Titan, Kalyan Jewellers and Senco Gold declining between 10% to 15% and losing up to ₹50,000 crore in market capitalization cumulatively.
What Are Analysts Saying According to brokerage firm Jefferies, the sentiments may weigh on jewellery names amidst a tough macro backdrop. However, it went on to add that organized players like Titan are better placed to navigate through this. Titan has worked over the years to reduce the impact of potential regulatory headwinds, according to Jefferies, which added that the share of gold exchange is now 50%, with domestic sourcing having increased.Continue ReadingFirst Published: May 13, 2026 4:44 AM ISTTagsCustoms Dutygold import dutyGold importsimport duty hikePlatinumsilver
