News > Budget 2023: Centre announces hike in basic customs duty on silver to 10% to check imports
Budget 2023: Centre announces hike in basic customs duty on silver to 10% to check imports
Firstpost | 01/02/2023 05:57 PM | Click to read full article
The Union government on Wednesday announced increasing the basic customs duty on silver, both in ore and semi-manufactured form, to 10 per cent in order to curb imports. Currently, the basic customs duty on silver ore is 6.1 per cent, while on silver unwrought or semi-manufactured items it is 7.5 per cent. In her Budget speech for 2023-24 fiscal, Finance Minister Nirmala Sitharaman said customs duties on ore and bars of gold and platinum were increased earlier this fiscal.
