India Revises Gold & Silver Import Tariff Values from 16 June 2026 – What It Means for Bullion Traders

 

India Revises Gold & Silver Import Tariff Values from 16 June 2026 – What It Means for Bullion Traders

The Government of India has issued Notification No. 55/2026-Customs (N.T.) on 15 June 2026, revising the tariff values for several imported commodities including gold, silver, palm oil, soybean oil, brass scrap, and areca nuts. This notification, released by the Central Board of Indirect Taxes and Customs (CBIC) under the Ministry of Finance, will come into effect from 16 June 2026.

For bullion traders, Jewellers, and investors, the biggest focus remains on the updated tariff values of gold and silver, as these directly influence import duties and market pricing.

What Are Tariff Values?

Tariff value is the government-declared value on which customs duty is calculated for imported goods. It may differ from actual market prices and is used to maintain uniformity in taxation.

For bullion imports, tariff values play a crucial role because customs duty is applied based on this benchmark rather than fluctuating international spot prices.

Revised Gold Tariff Value

As per the latest notification, the tariff value for gold has been fixed at:

US $1348 per 10 grams

This applies to:

• Gold imported under concessional customs entries

• Gold bars (excluding tola bars)

• Gold coins with purity above 99.5%

• Gold findings used in jewellery manufacturing
  This revision can directly impact:

• Gold import costs

• Domestic bullion premiums

• Jewellery manufacturing costs

• Retail gold rates

Revised Silver Tariff Value

The tariff value for silver has been updated to:

US $2175 per kilogram

This includes:

• Silver bars

• Silver medallions

• Silver coins (99.9% purity and above)

• Semi-manufactured silver forms
  Silver traders and industrial buyers may see a cost adjustment based on this revised benchmark.

Impact on Bullion Market

1. Import Cost Adjustment

A higher tariff value generally increases the customs-assessed value, leading to higher import duty outflow.

2. Domestic Price Influence

Bullion dealers often align their pricing with landed import costs. This can affect spot market prices across India.

3. Margin Planning for Traders

Bullion trading apps and live rate platforms must update calculations immediately to maintain accurate buy/sell spreads.

4. Jewellery Sector Pricing

Manufacturers may adjust making charges or final product rates depending on import cost changes.

Other Commodities Updated

Apart from bullion, the government also revised tariff values for:

• Crude Palm Oil – US $1232/MT

• RBD Palm Oil – US $1238/MT

• Crude Palmolein – US $1247/MT

• RBD Palmolein – US $1250/MT

• Crude Soybean Oil – US $1248/MT

• Brass Scrap – US $7814/MT

• Areca Nuts – US $10785/MT

What Should Bullion Businesses Do?

If you operate a bullion trading desk, jewellery business, or live rate app, here are immediate action points:

• Update tariff value calculations in your system

• Adjust buy/sell rate formulas

• Inform customers about revised landed cost

• Review open booking positions

• Monitor international gold and silver movement closely

Final Thoughts

The latest CBIC tariff revision is a significant update for the bullion industry. Even small changes in tariff values can create ripple effects in pricing, margins, and customer demand.

For traders, staying updated with government notifications is essential for accurate pricing and risk management. With gold fixed at US $1348 per 10 grams and silver at US $2175 per kg, market participants should be prepared for immediate pricing adjustments starting 16 June 2026.

Staying ahead of these updates helps maintain transparency, profitability, and customer trust in the bullion business.