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of <h1>Central Government Exempts Certain Gold and Silver Imports from Excess Duties Under Section 25 of Customs Act 1962</h1> Notification No. 62/2004-Customs, dated May 12, 2004, issued by the Central Government under section 25 of the Customs Act, 1962, exempts certain gold and silver imports from excess customs duties. Gold bars with engraved serial numbers and old coins are subject to a duty of Rs. 300 per 10 grams. Other forms of gold, including liquid gold and tola bars, are taxed at Rs. 750 per 10 grams. Silver is taxed at Rs. 1500 per kg. The notification excludes gold or silver jewelry and foreign currency coins. It was later amended by notifications in 2009 and 2010.
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