Precious Metals Duty Update: New Gold and Silver Customs Duty Effective 11 August 2026
Precious Metals Duty Update: New Gold and Silver Customs Duty Effective 11 August 2026
The Indian precious metals market has received an important customs duty update, with new customs duty rates coming into effect from 11 August 2026. The latest update brings a notable increase in the customs duty values for both gold and silver, while the government has also prescribed revised tariff values in US dollars.
According to the latest figures, the new customs duty is:
Gold: ₹20,098.46, an increase of ₹1,037.34
Silver: ₹29,909.97, an increase of ₹2,895.91
Rupee: ₹96.05
Gold tariff value: US $1,395 per 10 grams
Silver tariff value: US $2,076 per kilogram
LBMA Gold Fixing on 7 August 2026: US $4,335.55
LBMA Silver Fixing on 7 August 2026: US $64.32
The Government of India's Notification No. 69/2026-Customs (N.T.), issued by the Ministry of Finance and CBIC on 10 August 2026, confirms the revised tariff values and states that the notification comes into force from 11 August 2026.
Gold Customs Duty Rises to ₹20,098.46
One of the major highlights of the latest precious-metals duty update is the increase in the customs duty applicable to gold.
The new gold customs duty stands at:
Gold: ₹20,098.46
This represents an increase of:
₹1,037.34
Based on the figures provided, the increase is approximately 5.44% compared with the previous duty level.
Gold remains one of India's most important imported precious metals, making changes in customs valuation and duty particularly relevant to bullion importers, refiners, jewellery manufacturers, wholesalers and other participants across the precious-metals supply chain.
The latest government notification specifies a tariff value of US $1,395 per 10 grams for the relevant gold categories.
The same tariff value of US $1,395 per 10 grams is specified for qualifying gold bars and gold coins covered under the relevant entry.
Silver Customs Duty Increases to ₹29,909.97
Silver has also seen a significant increase under the latest duty update.
The new silver customs duty is:
Silver: ₹29,909.97
The increase is:
₹2,895.91
This represents an approximate increase of 10.72% over the previous figure based on the supplied numbers.
The increase in silver duty is particularly noteworthy because silver plays an important role not only in investment and bullion markets but also in industrial applications.
For businesses involved in silver imports, bullion trading, jewellery manufacturing and silver products, the revised customs duty can be an important factor when assessing overall import costs and pricing.
The government notification specifies the tariff value for the relevant silver category at:
US $2,076 per kilogram
This value is also specified for other silver categories covered under the relevant provisions of the notification.
Gold Tariff Value: US $1,395 per 10 Grams
The revised customs tariff value for the specified gold category is:
US $1,395 per 10 grams
This is one of the most important figures for the latest customs update.
The notification states that gold in any form covered by the relevant benefit under Serial Number 194 of Notification No. 45/2025-Customs has a tariff value of US $1,395 per 10 grams.
The tariff value framework is important because customs valuation and market valuation are separate concepts. The tariff value prescribed by the government is used within the customs framework for the specified imported goods.
Therefore, bullion businesses should distinguish between the customs tariff value, international bullion price, and domestic buy/sell rate when analysing the market.
Silver Tariff Value: US $2,076 per Kilogram
The corresponding tariff value for specified silver is:
US $2,076 per kilogram
The notification includes silver in any form covered by the applicable entry and provides the tariff value of US $2,076 per kilogram.
The notification also provides detailed descriptions and exclusions for the silver category. For example, the specified entry explains that “silver in any form” does not include foreign currency coins, silver jewellery or articles made of silver for that particular entry.
This makes correct classification of imported goods particularly important for businesses and customs professionals.
Rupee Value at ₹96.05
The latest precious-metals duty update also uses a rupee value of:
₹96.05
The exchange-rate component is particularly relevant when international precious-metals prices and US-dollar-denominated tariff values are considered in the Indian market.
Gold and silver are globally traded commodities, and their international benchmarks are generally quoted in US dollars. Consequently, movements in the USD/INR exchange rate can have a substantial impact on the corresponding Indian rupee value.
For Indian bullion businesses, therefore, three important variables need to be monitored closely:
International metal price + USD/INR exchange rate + applicable customs/duty structure
Any significant movement in one of these factors can influence the economics of imported precious metals.
LBMA Gold Fixing on 7 August 2026
The latest update also references the LBMA fixing on 7 August 2026.
The figures provided are:
Gold: US $4,335.55
The London Bullion Market Association (LBMA) benchmark is an important reference point for the international precious-metals market.
When international gold prices are elevated, the impact can flow through to domestic bullion markets, particularly when combined with currency movements and import-related costs.
The supplied LBMA gold figure of US $4,335.55 therefore provides important international market context alongside the new Indian customs tariff value of US $1,395 per 10 grams.
It is important, however, to distinguish between the LBMA market benchmark and India's customs tariff value. They serve different purposes and should not be interpreted as equivalent figures.
LBMA Silver Fixing: US $64.32
The corresponding silver fixing provided for 7 August 2026 is:
Silver: US $64.32
Silver's international price is particularly important for Indian bullion dealers and importers because changes in the global silver market can affect domestic prices.
Silver is influenced by both investment demand and industrial demand. This makes the metal sensitive to developments across financial markets as well as the broader global economy.
With the latest customs tariff value standing at US $2,076 per kilogram, businesses dealing in silver imports need to monitor both international silver prices and the customs valuation framework.
Why This Duty Update Matters for Bullion Traders
The latest change is important for India's bullion industry because customs duty is a major component in the economics of imported precious metals.
A bullion trader or importer generally needs to monitor several market variables simultaneously:
International gold price
International silver price
LBMA benchmark prices
USD/INR exchange rate
Customs tariff value
Applicable customs duty
Import-related costs
Domestic bullion premiums
Local market demand
Buy and sell spreads
When these factors move together, the effect on domestic bullion prices can be significant.
For this reason, professional bullion businesses increasingly depend on real-time rate monitoring and accurate market information.
Impact on Gold Importers
Gold importers are likely to pay close attention to the new customs duty of ₹20,098.46.
The increase of ₹1,037.34 compared with the previous figure represents an additional cost component that businesses need to consider while evaluating imports and pricing.
For importers, even a relatively small change in the duty applicable per unit can become significant when dealing with large quantities.
For example, when precious metals are imported in substantial volumes, changes in duty can have a direct impact on the total landed cost of the commodity.
This can subsequently influence the pricing decisions of wholesalers, jewellery manufacturers and retailers.
Impact on Silver Importers
The silver duty increase is even more pronounced in absolute terms, with the supplied figures showing an increase of ₹2,895.91, taking the new duty to ₹29,909.97.
Silver businesses should therefore carefully evaluate the effect of the updated duty on:
Import costs
Inventory valuation
Wholesale pricing
Retail pricing
Bullion trading margins
Customer quotations
Future purchase planning
Since silver is traded in large quantities and is generally quoted by weight, changes in duty can have a meaningful impact on overall transaction costs.
Gold and Silver Market: Customs Value vs Market Rate
One of the most important points to understand is that customs tariff value and market price are not the same thing.
The government notification establishes tariff values for customs purposes.
The international market, meanwhile, operates based on global bullion prices and benchmarks.
Domestic bullion rates can further differ because they may incorporate factors such as:
Currency conversion
Import costs
Customs duties
Local premiums
Transportation
Refining costs
Dealer margins
Market demand and supply
Therefore, businesses should avoid directly comparing the US-dollar tariff value with an LBMA fixing as though they represent the same type of price.
Importance of Accurate Bullion Rate Updates
For bullion dealers and customers, timely information is extremely important.
A small change in gold or silver prices can affect transactions involving large quantities. Similarly, changes in customs duty can alter the cost structure for imported precious metals.
Digital bullion applications can help businesses monitor information such as:
Gold Rate
Silver Rate
INR Rate
Buy Rate
Sell Rate
High / Low Rates
Spot Rates
Future Rates
Combining these market tools with regular customs-duty updates can give bullion businesses a more complete view of the market.
Key Precious Metals Duty Update at a Glance
| Particular | Gold | Silver |
|---|---|---|
| New Customs Duty | ₹20,098.46 | ₹29,909.97 |
| Increase | ₹1,037.34 | ₹2,895.91 |
| Tariff Value | US $1,395 / 10 gms | US $2,076 / kg |
| LBMA Fixing – 7 Aug 2026 | US $4,335.55 | US $64.32 |
| Rupee Value | ₹96.05 | ₹96.05 |
| Effective Date | 11 August 2026 | 11 August 2026 |
The tariff values and effective date are consistent with the Government of India's Notification No. 69/2026-Customs (N.T.).
What Bullion Businesses Should Watch Next
Following the latest customs duty revision, bullion market participants should closely monitor the interaction between international prices, currency movements and domestic import costs.
Particular attention should be given to:
1. International Gold Prices
Any major movement in international gold prices can influence domestic bullion rates.
2. International Silver Prices
Silver's dual role as an investment and industrial metal makes its international price an important indicator.
3. USD/INR Movement
The rupee value of internationally quoted precious metals can change significantly with currency fluctuations.
4. Customs Duty Updates
Further government notifications could alter the applicable tariff values or other import-related provisions.
5. Domestic Premiums
Local bullion premiums and market demand can cause domestic rates to differ from international benchmarks.
6. Import Economics
Importers should assess the combined impact of the international price, exchange rate and applicable customs framework rather than looking at any single number in isolation.
Final Outlook
The latest precious metals duty update marks an important development for India's gold and silver industry. With the new figures effective from 11 August 2026, the customs duty for gold has moved to ₹20,098.46, while silver has moved to ₹29,909.97 based on the figures provided.
At the same time, the government has prescribed tariff values of US $1,395 per 10 grams for specified gold and US $2,076 per kilogram for specified silver.
The update comes alongside the international market reference points provided for 7 August 2026, with gold at US $4,335.55 and silver at US $64.32, while the rupee value stands at ₹96.05.
For importers, bullion dealers, jewellery manufacturers and precious-metals traders, the key takeaway is clear: customs duty, tariff values, international bullion benchmarks and currency movements all need to be monitored together.
As the Indian bullion market continues to respond to global precious-metals prices and domestic regulatory changes, accurate and timely rate information will remain essential for making informed trading, purchasing and pricing decisions.
Source: Government of India, Ministry of Finance, Department of Revenue, CBIC, Notification No. 69/2026-Customs (N.T.), dated 10 August 2026. The notification states that the revised provisions come into force from 11 August 2026.
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