In a bid to boost domestic value addition, Finance Minister Nirmala Sitharaman has announced a reduction in customs duties for precious metals in the Union Budget 2024. The duty on gold and silver will be lowered to 6%, while the duty on platinum will be cut to 6.4%.
Sitharaman stated, “Propose to reduce customs duties on gold and silver to 6% and 6.5% on platinum.” This move aims to enhance domestic manufacturing and make these metals more accessible for various uses.
TOPICS:
Union Budget 2024