India Revises Gold and Silver Customs Tariff Values: Key Changes Effective 11 August 2026
India Revises Gold and Silver Customs Tariff Values: Key Changes Effective 11 August 2026
The Government of India has announced revised customs tariff values for gold and silver through Notification No. 69/2026-Customs (N.T.), issued by the Ministry of Finance, Department of Revenue, and Central Board of Indirect Taxes and Customs (CBIC) on 10 August 2026. The notification amends the earlier Notification No. 36/2001-Customs (N.T.) by substituting its existing Tables 1, 2 and 3 with revised tariff-value tables.
The revised notification is particularly relevant for businesses involved in the gold, silver, jewellery, bullion, precious-metals trading and import sectors, as it specifies tariff values used for customs purposes for specified forms of gold and silver. The changes come into force from 11 August 2026.
Gold Customs Tariff Value Revised to US $1,395 per 10 Grams
One of the key figures mentioned in the notification is the tariff value applicable to specified gold imports. Under Table-2, gold in any form covered by the relevant benefit under Serial Number 194 of Notification No. 45/2025-Customs dated 24 October 2025 has been assigned a tariff value of:
US $1,395 per 10 grams
The notification also specifies a tariff value of US $1,395 per 10 grams for specified gold bars and gold coins.
The gold category includes specified gold bars, other than tola bars, bearing a manufacturer's or refiner's engraved serial number and weight expressed in metric units. It also covers gold coins having gold content of not less than 99.5%, along with specified gold findings, subject to the conditions mentioned in the notification.
For the precious-metals industry, this makes the notification important because customs valuation of eligible imported gold is directly connected with the tariff value prescribed by the government.
Silver Customs Tariff Value Set at US $2,076 per Kilogram
The notification also provides a revised tariff value for specified silver.
Under Table-2, silver in any form covered by the applicable benefit under Serial Number 195 of Notification No. 45/2025-Customs dated 24 October 2025 has a tariff value of:
US $2,076 per kilogram
The same US $2,076 per kilogram figure is also specified for certain other forms of silver covered under the notification.
The notification specifically explains that the silver category includes silver in various forms, subject to the exclusions and conditions described. It states that foreign currency coins, jewellery made of silver and articles made of silver are not included within the meaning of “silver in any form” for that particular entry.
This distinction is important for businesses because the prescribed tariff-value treatment depends on the exact nature and classification of the imported goods.
What Does the New Notification Mean for Bullion and Precious-Metal Businesses?
The revision is significant for participants across the precious-metals supply chain. Importers, bullion dealers, jewellery businesses and market participants closely monitor customs tariff values because these government-prescribed values form part of the customs framework for specified imported commodities.
For businesses dealing in gold and silver, the notification provides updated reference values for the applicable customs valuation framework. The revised figures can therefore be important when businesses assess import-related costs, documentation and compliance requirements.
However, it is important to understand that a customs tariff value is not the same thing as the domestic market price or live bullion trading rate. Gold and silver market rates can move based on international prices, currency movements, supply and demand, market sentiment and several other factors. The notification specifically establishes tariff values for customs purposes.
Gold Valuation and the Bullion Market
Gold remains one of the most actively traded precious metals in India. The country's bullion ecosystem includes importers, refiners, wholesalers, jewellery manufacturers, retailers and traders.
With the notification specifying US $1,395 per 10 grams for the relevant gold categories, businesses involved in imports need to take note of the updated figure and its effective date.
For bullion trading platforms and applications, it is also important to maintain a clear distinction between:
International gold prices
Domestic bullion rates
Buy rates
Sell rates
Spot rates
Future rates
Customs tariff values
Applicable duties and taxes
These values serve different purposes and should not be treated as interchangeable.
Silver Valuation and Its Importance
Silver is another important commodity within India's precious-metals ecosystem. The notification prescribes US $2,076 per kilogram for the specified silver categories covered under Table-2.
Silver prices can experience considerable movements because silver has both investment and industrial demand. For bullion businesses, accurate tracking of silver prices is therefore essential for purchasing, selling, inventory management and customer quotations.
The notification's classification details also highlight why businesses should carefully verify the applicable tariff heading and description before applying the prescribed tariff value to a particular import transaction.
Specified Gold Bars and Gold Coins
The notification provides specific details regarding gold bars and gold coins.
The specified gold-bar category includes gold bars other than tola bars that carry a manufacturer's or refiner's engraved serial number and weight expressed in metric units.
It also covers gold coins with gold content of at least 99.5%, along with gold findings as defined in the notification. Gold findings refer to small components such as hooks, clasps, clamps, pins, catches and screw backs used to hold a whole or part of a jewellery piece in place.
These detailed descriptions are important because customs treatment depends not only on the metal involved but also on the form, classification and specific conditions attached to the relevant tariff entry.
Other Commodities Covered in the Notification
Although gold and silver are particularly relevant to the bullion industry, the notification also revises or retains tariff values for several other commodities.
Under Table-1, the notification lists:
Crude Palm Oil – US $1,211 per metric tonne
RBD Palm Oil – US $1,212 per metric tonne
Other Palm Oil – US $1,212 per metric tonne
Crude Palmolein – US $1,222 per metric tonne
RBD Palmolein – US $1,225 per metric tonne
Other Palmolein – US $1,224 per metric tonne
Crude Soyabean Oil – US $1,255 per metric tonne
Brass Scrap – US $7,639 per metric tonne
The notification marks these listed values as “i.e., no change.”
Table-3 also specifies the tariff value for areca nuts at US $10,785 per metric tonne, again marked as “i.e., no change.”
Effective From 11 August 2026
A major point for importers and businesses is the effective date.
The notification was issued in New Delhi on 10 August 2026, and it clearly states that the amendments shall come into force from 11 August 2026.
Therefore, businesses dealing with relevant imports should take the revised tariff values into account from the effective date and ensure that their customs documentation and internal systems reflect the applicable values.
Why Businesses Should Track Customs Notifications Regularly
The precious-metals market is highly dynamic. Gold and silver prices can change frequently, while customs notifications can periodically revise tariff values.
For bullion companies, regularly monitoring official government notifications can help with:
Import planning
Customs documentation
Internal valuation processes
Compliance monitoring
Cost assessment
Inventory planning
Communication with customers and business partners
A bullion business that maintains updated information can respond more efficiently to changes in the regulatory and market environment.
Importance for Digital Bullion and Rate Platforms
Modern bullion businesses increasingly use digital applications and platforms to display live rates, spot rates, future rates, buy prices and sell prices.
A professional bullion application can help users monitor market information from a single interface. However, businesses should ensure that live market rates and government-prescribed customs tariff values are clearly differentiated.
For example, a customer viewing a bullion application may see:
Gold – Buy Rate
Gold – Sell Rate
Silver – Buy Rate
Silver – Sell Rate
Gold Future Rate
Silver Future Rate
These are market-facing figures and should not automatically be interpreted as customs tariff values.
The latest government notification provides a separate regulatory reference for specified imported commodities.
Key Takeaways for the Gold and Silver Industry
The major points from Notification No. 69/2026-Customs (N.T.) can be summarized as follows:
| Commodity / Category | Revised Tariff Value |
|---|---|
| Specified Gold | US $1,395 per 10 grams |
| Specified Silver | US $2,076 per kilogram |
| Gold bars / qualifying gold coins | US $1,395 per 10 grams |
| Areca nuts | US $10,785 per metric tonne |
| Brass Scrap | US $7,639 per metric tonne |
The gold and silver values are particularly relevant to businesses dealing with specified imports under the respective entries and conditions in the notification.
Conclusion
The Government of India's Notification No. 69/2026-Customs (N.T.) introduces updated customs tariff values by substituting the earlier Tables 1, 2 and 3 under Notification No. 36/2001-Customs (N.T.). For the bullion and precious-metals industry, the most notable figures are US $1,395 per 10 grams for specified gold and US $2,076 per kilogram for specified silver.
The notification was issued on 10 August 2026 and becomes effective from 11 August 2026.
For importers, bullion traders, jewellery businesses and other stakeholders in the precious-metals ecosystem, staying updated with such notifications is essential. At the same time, customs tariff values should be understood as part of the customs valuation framework and should not be confused with live domestic bullion rates or international market prices.
Source: Government of India, Ministry of Finance, Department of Revenue, CBIC, Notification No. 69/2026-Customs (N.T.), dated 10 August 2026.
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