Finance Ministry Raises Customs Tariff Value of Gold

The Finance Ministry has increased the customs tariff value of gold. The tariff value is a notional value fixed by the government for the purpose of levying customs duty on imported goods, including gold. An increase in the tariff value of gold will result in a higher customs duty payable on its import, potentially impacting gold prices in the domestic market. This move could be influenced by fluctuations in international gold prices or the government's policy decisions related to gold imports and the domestic bullion market.