Interview | To Curb Illegal Gold Trade, Reduce Duty To 7% In Budget 2021: Malabar Gold & Diamonds Chairman
Interview | To curb illegal gold trade, reduce duty to 7% in Budget 2021: Malabar Gold & Diamonds chairman The extent of the impact of gold smuggling can be gauged from a World Gold Council estimate which says illegal gold shipment fulfils around 17 percent of the country’s annual gold demand. Mumbai / January 14, 2021 / 06:59 PM IST The total levy on gold, which now stands at 15.5 percent, including 12.5 percent import duty and 3 percent GST, is quite high, and the government must reduce it to 7 percent in the Budget 2021 to make gold smuggling unviable, says Malabar Gold & Diamo...
Source: moneycontrol.com