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India raises import duty on platinum to 15.4%
Overall import duty on platinum was raised to 15.4% from 10.75%, according to a government notification
ET Now Digital
Updated Oct 3, 2022, 21:12 IST
India raises platinum duty to over 15
Photo : ET Now Digital
India has raised total import duty on platinum to 15.4% from 10.75%, the government said in a notification on Monday, seeking to bring parity in import duty structure between gold and platinum.
In July, New Delhi raised import duty on gold to 15% but then kept the tax on platinum imports unchanged at 10.75%.
India's platinum imports in September jumped multifold to a record high as refiners imported a large amount of gold containing small amounts of platinum but registered the purchases with customs as platinum alloy to avoid paying higher duties. (Reuters)
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