Posted on January 30, 2023

To discourage cheap imports from China and encourage domestic manufacturing, Customs duty on imitation jewellery has been enhanced from 20 per cent to 25 per cent in the Budget 2023-24 for India.

A slection of measures has been introduced to give a boost to exports and help accelerate growth of manufacturing in the country. The indirect tax simplification and rationalisation has a clear export-oriented focus.

Import Customs duty on articles of precious metals such as gold, silver and platinum has been increased from 20 per cent to 25 per cent.

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