CBIC Increases Customs Tariff Value for Silver Imports [Read Notification]
CBIC has increased the customs tariff value of silver imports to USD 2,603 per kilogram from USD 2,360, effective May 9, 2026, while keeping gold tariff values unchanged.
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The Ministry of Finance, through the Central Board of Indirect Taxes and Customs (CBIC), has issued a notification dated May 8, 2026, increasing the customs tariff value for silver imports to USD 2,603 per kilogram from the earlier USD 2,360 per kilogram. The revised rates will come into effect from May 9, 2026. The latest revision comes as part of the government’s periodic review...
The Ministry of Finance, through the Central Board of Indirect Taxes and Customs (CBIC), has issued a notification dated May 8, 2026, increasing the customs tariff value for silver imports to USD 2,603 per kilogram from the earlier USD 2,360 per kilogram. The revised rates will come into effect from May 9, 2026.
The latest revision comes as part of the government’s periodic review of tariff values for imported commodities such as gold, silver, edible oils, brass scrap and areca nuts. Tariff values are important because customs duty on these goods is calculated based on the notified value.
Under the new notification, the tariff value for silver imports has been raised by USD 243 per kilogram. The increase applies to silver imported in various forms, including silver bars, silver coins and semi-manufactured silver products covered under customs classifications mentioned in the notification.
The tariff value for gold has been kept unchanged at USD 1,456 per 10 grams. Similarly, tariff values for crude palm oil, RBD palm oil, crude soybean oil, brass scrap and areca nuts remain unchanged.
Revised TABLE-2
| Sl. No. | Chapter/ heading/ sub-heading/ tariff item | Description of goods | Tariff value (US $) |
| 1 | 71 or 98 | Gold, in any form, in respect of which the benefit of entries at serial number 194 of the Notification No. 45/2025-Customs dated 24.10.2025 is availed | 1456 per 10 grams (i.e., no change) |
| 2 | 71 or 98 | Silver, in any form, in respect of which the benefit of entries at serial number 195 of the Notification No. 45/2025-Customs dated 24.10.2025 is availed | 2603 per kilogram |
| 3 | 71 | (i) Silver, in any form, other than medallions and silver coins having silver content not below 99.9% or semi-manufactured forms of silver falling under sub-heading 7106 92; (ii) Medallions and silver coins having silver content not below 99.9% or semi-manufactured forms of silver falling under sub-heading 7106 92, other than imports of such goods through post, courier or baggage. Explanation. – For the purposes of this entry, silver in any form shall not include foreign currency coins, jewellery made of silver or articles made of silver. | 2603 per kilogram |
| 4 | 71 | (i) Gold bars, other than tola bars, bearing manufacturer’s or refiner’s engraved serial number and weight expressed in metric units; (ii) Gold coins having gold content not below 99.5% and gold findings, other than imports of such goods through post, courier or baggage. Explanation. – For the purposes of this entry, “gold findings” means a small component such as hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of Jewellery in place. | 1456 per 10 grams (i.e., no change) |
The increase in silver tariff value may lead to a rise in import costs for traders and jewellery manufacturers. Since customs duties are linked to tariff values, higher valuation could slightly increase the landed price of imported silver in India.
India is among the world’s largest consumers of silver, with demand coming from jewellery makers, investors, solar equipment manufacturers and industrial users. Changes in customs tariff values are closely monitored by bullion dealers because they can influence domestic market prices and import patterns.
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