Seeks to amend notification No. 57/2000-Customs dated 8th May 2000, which provides concessional rate for gold, silver and platinum imported under specified schemes.
Central Government issued Notification No. 17/2026-Customs dated 12 May 2026 to amend Notification No. 57/2000-Customs, which grants concessional customs duty rates on import of gold, silver, and platinum under specified import schemes. Exercising powers under Section 25(1) of the Customs Act, 1962, the Ministry of Finance revised the concessional customs duty rate applicable under Sl. No. 1 of the notification by substituting the existing rate of 4.35% with a significantly higher rate of 10% wherever it occurred in column (4) of the Table. The amendment effectively increases the concessional duty burden on imports of precious metals carried out under the designated schemes governed by the notification. Notification No. 57/2000-Customs has historically provided preferential customs treatment for imports of gold, silver, and platinum through nominated agencies, qualified importers, and specified export-oriented or trade-linked schemes. By revising the concessional rate to 10%, the Government has aligned the concessional structure with the broader customs duty changes introduced through related notifications concerning precious metals and bullion imports. The amendment forms part of a larger policy revision impacting the bullion trade, jewellery manufacturing sector, and precious metal imports into India. The notification states that the change has been made in public interest and will come into force from 13 May 2026. The principal notification dated 8 May 2000 had last been amended through Notification No. 33/2024-Customs dated 23 July 2024. The revised duty structure is expected to increase import costs for gold, silver, and platinum imported under concessional customs schemes.
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 17/2026-Customs | Dated: 12th May, 2026
G.S.R. 356(E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue) No. 57/2000-Customs, dated the 8th May, 2000, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R. 413 (E), dated the 8th May, 2000, namely:-
In the said notification, in the TABLE, against Sl. No. 1, in column (4), for the entry “4.35%” wherever it occurs, “10%” shall be substituted.
2. This notification shall come into force on the 13th day of May, 2026.
[F. No. 354/04/2026-TRU]
DHEERAJ SHARMA, Under Secy.
Note: The principal notification No. 57/2000-Customs, dated the 8th May, 2000 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R. 413 (E), dated the 8th May, 2000 and was last amended by notification No. 33/2024-Customs, dated 23rd July, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R. 436 (E), dated the 23rd July, 2024.
