Parliament Question: Concessional import duty on Silver

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE RAJYA SABHA UNSTARRED QUESTION NO. 2001 ANSWERED ON – 10.03.2026 CONCESSIONAL IMPORT DUTY ON SILVER 2001 SHRI SAKET GOKHALE: Will the Minister of Finance be pleased to state: (a) whether the import duty on Silver through Gift City exchange in Gandhinagar is at 8 per cent compared to 15 per cent in other parts of the country, if so, the reasons therefor; (b) the percentage of total Silver imports in India that came via the Gift City exchange in Gandhinagar between January 2023 to October 2024; and (c) the total amount of imports of Silver under concessional 8 per cent duty across India that have been rejected for not meeting the “Rules of Origin” conditions between January 2023 to October 2024? ANSWER THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PANKAJ CHAUDHARY) Parts (a), (b) and (c): (i) Currently, imports of Silver attract total customs duty at the rate of 6% [5% Basic Customs Duty (BCD) + 1% Agriculture Infrastructure and Development Cess (AIDC)]. The same rate applies to imports through Gift City. (ii) During January 2023 to October 2024, percentage of silver imports under CEPA through IIBX at GIFT-SEZ to total silver imports was approximately 11%. (iii) The concessional customs duty for import of silver under India-UAE CEPA was 8% during the period April 2024 to October 2024. None of the Certificate of Origin (CoOs) of silver imports under India-UAE CEPA were found to be not fulfilling the rule of origin criteria. *****