Central excise duty on gold bullion

[Raginee Goyal]

What is the rate of duty on manufacture of pure gold bullion from raw gold/ gold dust/ dore bars by refining process?

AI Summary

Clarification on Excise Duty: Pure Gold Bullion from Raw Gold, Dust, or Dore Bars Exempt Under Notification No. 12/2012 CE. A query was raised regarding the central excise duty applicable to the manufacture of pure gold bullion from raw gold, gold dust, or dore bars through refining. It was clarified that pure gold does not attract any excise duty. Under Chapter heading 7108, gold generally attracts a 12% duty, but Notification No. 12/2012 CE specifies that primary gold converted with power from forms other than gold ore, concentrate, or dore bar is exempt from duty. Gold bars, excluding tola bars, manufactured from gold ore, concentrate, or dore bar attract a 3% duty, with specific definitions provided for dore bars.