Friday, August 30, 2013

Govt. raises import tariff value of gold

NEW DELHI, August 30, 2013(7STARNEWS)The government on Friday raised the import tariff value of gold to $461 per ten grams and of silver to $803 per kg as prices of the precious metals touched all-time high this week.

Tariff value -- the base price on which the customs duty is determined to prevent under-invoicing -- of gold and silver stood at $432 per 10 grams and $697 per kg, respectively earlier.

The notification, issued by the Central Board of Excise and Customs, has come two days after when gold prices has touched the new peak of Rs 34,500 per 10 grams in the national capital. The prices of yellow metal has increased by 9 per cent so far in the month of August.

Prices of gold on Friday fell and closed at Rs 31,700 per 10 grams and silver at Rs 54,000 per kg in the national capital.
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