Customs Duty on Gold and Silver Increased to 10%

Central Government, through Notification No. 15/2026-Customs dated 12 May 2026 issued by the Ministry of Finance, amended Notification No. 45/2025-Customs to revise customs duty rates on various precious metal imports, primarily increasing the concessional customs duty from 5% to 10% on several categories of gold, silver, and related products. The revised rates apply to gold dore bars containing up to 95% gold, silver dore bars containing up to 95% silver, gold bars and gold coins imported by eligible passengers, gold ornaments and tola bars, silver imports including ornaments, gold and silver findings used in jewellery, and other specified precious metal goods. The notification also inserted a new entry, S. No. 200A, prescribing a 10% customs duty on spent catalyst or ash containing precious metals under tariff heading 7112, with the concession remaining effective only until 31 March 2027. Further, Entry No. 202 was substituted to provide a uniform 10% duty on specified precious metal tariff items including platinum and related products, except goods covered under the newly inserted S. No. 200A. The amendment was issued under Section 25(1) of the Customs Act, 1962 and Section 3(12) of the Customs Tariff Act, 1975 in public interest. The revised customs duty structure is aimed at increasing import duties on precious metals and related goods, thereby impacting import costs, passenger baggage imports, jewellery trade components, and recycling materials containing precious metals. The notification comes into effect from 13 May 2026.

Relevant Extract of TABLE I for our readers ready reference: 

192. Gold dore bar, having gold content not exceeding 95%

193.Silver dore bar having silver content not exceeding 95%

194. (i) Gold bars, other than tola bars, bearing manufacturer’s or refiner’s engraved serial number and weight expressed in metric units, and gold coins having gold content not below 99.5%, imported by the eligible passenger (ii) Gold in any form other than (i), including tola bars
and ornaments, but excluding ornaments studded with stones or pearls

195. Silver, in any form including ornaments, but excluding ornaments studded with stones or pearls, imported by the eligible passenger

196. All goods other than those mentioned at S. No. 192

197.All goods other than those mentioned at S. No. 193

203. (i) Gold findings; (ii) Silver findings; (iii) Platinum findings Explanation. – For the purposes of this entry, gold, silver or platinum findings mean a small component such as hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of jewelry in place.

MINISTRY OF FINANCE
(Department of Revenue)

Notification No. 15/2026-Customs | Dated: 12th May, 2026

G.S.R. 358(E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), 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. 45/2025-Customs, dated the 24^th October, 2025, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 781(E), dated the 24^th October, 2025, namely: —

In the said notification, in TABLE I, –

(1) against S. No. 192, in column (4), for the entry “5%”, the entry “10%” shall be substituted;

(2) against S. No. 193, in column (4), for the entry “5%”, the entry “10%” shall be substituted;

(3) against S. No. 194, in column (4), for the entry “5%”, at both the places, the entry “10%” shall be substituted;

(4) against S. No. 195, in column (4), for the entry “5%”, the entry “10%” shall be substituted;

(5) against S. No. 196, in column (4), for the entry “5%”, the entry “10%” shall be substituted;

(6) against S. No. 197, in column (4), for the entry “5%”, the entry “10%” shall be substituted;

(7) after S. No. 200 and the entries relating thereto, the following S. No. and entries shall be inserted, namely :-

(8) for S. No. 202 and the entries relating thereto, the following S. No. and entries shall be substituted, namely:-

(9) against S. No. 203, in column (4), for the entry “5%”, the entry “10%” shall be substituted;

2. This notification shall come into force on the 13^th day of May, 2026.

[F. No. 354/04/2026-TRU]
DHEERAJ SHARMA, Under Secy.

Note: – The principal notification No. 45/2025-Customs, dated the 24^th October, 2025, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i) vide number G.S.R. 781(E), dated the 24^th October, 2025 and was last amended vide notification No. 06/2026-Customs, dated the 12^th March, 2026, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R.181 (E), dated the 12^th March, 2026.