Govt collects ₹10,040 crore duty on gold imports in 2.5 months after hike | Finance News
The government has collected ₹10,040 crore in customs duty on gold imports in the first two-and-a-half months after raising the effective import duty on the yellow metal to 15 per cent, according to data tabled in the Lok Sabha on Monday.
Replying to a question, Minister of State for Finance Pankaj Chaudhary said the effective customs duty on gold, silver and precious metals was increased with effect from May 13, 2026. Total duty collected from imports of these metals between May 13 and August 2 stood at Rs 10,040 crore on gold, Rs 328 crore on silver and Rs 95 crore on platinum. The figures are provisional.
The government had more than doubled the effective import duty on gold and silver to 15 per cent from 6 per cent earlier by raising the basic customs duty to 10 per cent and the agriculture infrastructure and development cess to 5 per cent. The move was aimed at curbing high import volumes that were putting pressure on the current account and foreign exchange reserves.
On the enforcement side, the minister shared data on gold seizures for the period May 13 to June 30, 2026. Customs authorities registered 287 cases, seized 160.91 kg of gold and arrested 116 persons during this window. No official estimate is available on the quantum of gold lying idle with households in the country, the minister said, adding that such data is not maintained.
First Published: Aug 10 2026 | 4:11 PM IST
