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Union Budget 2024-25 (Full) + FINANCE (No.2) Bill, 2024
Notification No. 11/2021 – Customs, dated 01.02.2021 is being amended to revise the AIDC rates on the following goods (w.e.f. 24.07.2024): | ||||
| AIDC rate changes (with changes to the effective rate of Customs Duty) | Rate | ||
S.No. | Chapter, Heading, sub- heading, tariff item | Commodity | From | To |
1. | 7108 | Gold bar | 5% | 1% |
2. | 7108 | Gold dore | 4.35% | 0.35% |
3. | 7106 | Silver bar | 5% | 1% |
4. | 7106 | Silver dore | 4.35% | 0.35% |
5. | 7110 | Platinum, Palladium, Osmium, Ruthenium, Iridium | 5.4% | 1.4% |
6. | 7118 | Coins of precious metals | 5% | 1% |
7. | 7113 | Gold/Silver findings | 5% | 1% |
Full Text:
Agriculture Infrastructure and Development Cess rate reduction alters customs duty incidence on specified precious metal imports. Amendment revises the Agriculture Infrastructure and Development Cess (AIDC) rates on specified precious metal goods by modifying Notification No. 11/2021 - Customs, effective 24 July 2024, reducing AIDC and altering the effective customs duty incidence on listed tariff entries including gold, silver, platinum group metals, coins of precious metals, and related findings. of Press 'Enter' after typing page number.
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