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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>India Revises Customs Duty: 2% on Gold Bars, 5% on Other Gold, 6% on Silver; Effective January 17, 2012.</h1> The Government of India, through the Ministry of Finance, issued Notification No. 02/2012-Customs on January 16, 2012, prescribing customs duty rates for gold and silver imports not made through post, courier, or baggage. The notification supersedes a previous 2004 notification and exempts specified goods from excess customs duty. Gold bars with specific markings and gold coins with less than 99.5% gold content are subject to a 2% duty, other forms of gold to 5%, and silver with at least 99.9% content to 6%. This notification took effect on January 17, 2012.