The central government has revised Customs duty structure on key commodities, such as those used in power generation (coal, peat, lignite), gold, and platinum.
While the Customs duty on coal, peat and lignite has gone up from 1 percent to 2.5 percent, the duty on gold (12.5 percent), gold dore (11.85 percent) and platinum (12.5 percent) has come down to 10 percent.
| Commodity | Old Customs Duty | New Customs Duty |
| Coal, peat, lignite | 1% | 2.5% |
| Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder | 12.5% | 10% |
| Gold dore | 11.85% | 10% |
| Platinum, unwrought or in semi-manufactured form, or in powder form other than those used in manufacture of noble metal compounds, noble metal solutions and catalytic converters | 12.5% | 10% |
Coal, peat and lignite are used in electricity generation. Gold dore is a bar thta general contains gold and silver. A dore bar is usually produced as part of the mining and refining process, but can also be created from scrap gold.
Platinum has several applications, including in catalytic converters, while gold is used in electrical wiring and has other industrial applications.
First Published: Feb 1, 2023 2:41 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha election 2024: A SWOT analysis of DMK vs AIADMK in Tamil Nadu
Apr 19, 2024 1:22 AM
Exclusive: FM Nirmala Sitharaman says poverty alleviation can't be achieved by throwing money at the problem
Apr 18, 2024 7:27 PM
Tamil Nadu Lok Sabha elections 2024: List of Congress candidates
Apr 18, 2024 4:33 PM
Will the payment under PM-KISAN be increased? Here's what Finance Minister said
Apr 18, 2024 3:58 PM