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DORE GOLD
India's gold tariff hike fuels smuggling revival, squeezes banks and refinersIndia's decision to raise gold import duties to 15% is triggering a fresh surge in smuggling, as illegal operators exploit a widening price...- What's brewing? FinMin seeks gold lending info from banksIn a communique to banks on Friday evening, the Department of Financial Services sought data on value and quantity of gold metal loans (GML...
- Gold imports jump 82 pc to USD 5.62 bn in April; silver by 157 pcIndia saw a significant jump in gold imports in April, reaching USD 5.62 billion. This surge was driven by high prices. However, the govern...
- DRI, Customs officers to intensify vigil on gold smuggling post import duty hikeRevenue intelligence and customs officials are preparing to tighten surveillance across airports, seaports and land borders after India rai...
- India raises gold import duty back to 15%: What’s behind the moveIndia has significantly raised import duties on gold, silver, and platinum. This move aims to safeguard the nation's economy and foreign ex...
- India raises gold, silver import duty to 15% to curb imports, support rupee amid West Asia crisisGold, silver import duty hike: India has significantly raised customs duties on gold, silver, and platinum imports to 15% and 15.4%, respec...
- Indian April gold imports fall to near 30-year low as tax demand hits shipmentsIndia’s gold imports in April are set to fall to around 15 metric tons, a near 30-year low, as banks halted shipments following a 3% IGST d...
- Gold dealers' disquiet over imports from AfricaIndian bullion dealers and jewellers have warned the government that certain refineries in the country are importing dore gold, free of cus...
- Covid-19 Impact: Half of the gold refineries in the country closes downThese refineries are located in Uttarakhand, Ahmedabad and Delhi. Earlier, nearly 20 tonnes of dore gold was coming to India from these cou...
- Gold imports may shrink as dore shinesMMTC PAMP is the only LBMA (London Bullion Market Association) accredited refiner in India.
- MMTC Venture finds refining at Swiss unit cheaperThe company has diverted four tonnes of dore gold since the last week of July.
- From June, only BIS accredited refiners can import raw goldIndia on average imports 750-800 tonnes of gold. This includes refined bars and dore gold.
- Ghana makes government certificate mandatory for exporting dore goldConflict gold is mined illegally or by employing child labour or using illicit means of mining. Funds generated by such means are used to s...
- Government cuts excise duty on impure gold to 9.35 per centArun Jaitley had increased the excise duty on impure dore gold to 9.5% from 9% in this year’s budget, narrowing the difference between the ...
- Gold imports plunge 10% in FY'16 on poor domestic salesThe maximum quantity of gold was imported by the Bank of Nova Scotia at about 150
- Indian gold refining units are now focusing on scrap jewelleryThe duty differential for refining units in nonexcise free area is a meagre 0.47% those operating in excise free zone is enjoying a margin ...
- Budget 2016 may result in closure of gold refining units in IndiaIn the budget the government has hiked the excise duty on dore gold (impure gold) from 8% to 8.75% and excise duty from 9% to 9.5%.
- Gold dore imports on 8% duty hit bar inflows from DubaiImport of gold bars from Dubai to India, that attracts a 10 per cent import duty, may take a hit as refiners are importing more of gold dor...
- Differential gold import levies may cost India $3 billion: ReportGoing by the report, the current 2.06% duty differential — representing $25.75/oz — is significantly higher than the refining cost.
- Govt waives basic customs duty and special additional duty on semi-purified gold barsThe operating capacity of domestic gold refineries may go up as the government has waived basic customs duty and special additional duty fo...
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