BusinessGST Exemption on Gold-Silver Imports for Banks May End on Oct 7
The GST Council may decide on October 7 to end the 3% IGST exemption on gold, silver, and platinum imports currently granted to banks and government-nominated agencies. This exemption, introduced in 2017 to ease business amid strict import controls, could be withdrawn to equalize tax treatment between banks, nominated agencies, and bullion traders. India is the world's second-largest gold consumer, and import duties were raised recently to curb non-essential imports and protect foreign exchange reserves.
Prabhat Khabar·



