<p>The government on Wednesday hiked the import tariff value on gold and silver to $431 per 10 grams and $646 per kg, respectively, taking firm global cues.<br /><br />During the first fortnight of the current month, tariff value on imported gold was fixed at $421 per 10 grams and silver at $644 per kg.</p>.<p><br />The import tariff value — the base price at which customs duty is determined to prevent underinvoicing — is revised on a fortnightly basis taking into account the volatility in global prices.<br /><br />The increase in tariff value on imported gold and silver has been notified by the Central Board of Excise and Customs, an official statement said.</p>.<p><br />Due to government curbs, the country’s total gold and silver imports dropped 40 per cent to $33.46 billion in 2013-14, as against $55.79 billion in the previous year.</p>
<p>The government on Wednesday hiked the import tariff value on gold and silver to $431 per 10 grams and $646 per kg, respectively, taking firm global cues.<br /><br />During the first fortnight of the current month, tariff value on imported gold was fixed at $421 per 10 grams and silver at $644 per kg.</p>.<p><br />The import tariff value — the base price at which customs duty is determined to prevent underinvoicing — is revised on a fortnightly basis taking into account the volatility in global prices.<br /><br />The increase in tariff value on imported gold and silver has been notified by the Central Board of Excise and Customs, an official statement said.</p>.<p><br />Due to government curbs, the country’s total gold and silver imports dropped 40 per cent to $33.46 billion in 2013-14, as against $55.79 billion in the previous year.</p>