Customs Duty Raised on Precious Metal Findings: Gold & Silver 5%, Platinum 5.4%, Catalyst 4.35% [Read Notification]
This move follows a series of amendments to earlier notifications issued in 2018 and 2021, marking a significant update in India’s customs duty structure for the precious metals sector.
![Customs Duty Raised on Precious Metal Findings: Gold & Silver 5%, Platinum 5.4%, Catalyst 4.35% [Read Notification]](https://images.taxscan.in/h-upload/2026/05/14/2136857-customs-duty-precious-metal-findings-gold-silver-platinum-catalyst-taxscan.webp "Customs Duty Raised on Precious Metal Findings: Gold & Silver 5%, Platinum 5.4%, Catalyst 4.35% [Read Notification]")
The Ministry of Finance (Department of Revenue) has notified changes to customs duty rates on precious metals and related findings through Notification No. 16/2026-Customs, set to take effect from May 13, 2026. The changes, notified under Section 25(1) of the Customs Act, 1962, read with provisions of the Finance Acts of 2018 and 2021, are aimed at streamlining duty structures...
The Ministry of Finance (Department of Revenue) has notified changes to customs duty rates on precious metals and related findings through Notification No. 16/2026-Customs, set to take effect from May 13, 2026.
The changes, notified under Section 25(1) of the Customs Act, 1962, read with provisions of the Finance Acts of 2018 and 2021, are aimed at streamlining duty structures in the public interest.
Main changes:
- Under the revised framework, gold and silver findings will attract a 5% duty, while platinum findings have been fixed at 5.4%.
- Spent Catalyst or Ash containing Precious Metals: Duty set at 4.35%, subject to compliance with the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022. Importers must provide:
- An undertaking to customs authorities regarding the percentage of precious metals contained.
- A certificate from the Ministry of Environment, Forest and Climate Change permitting import for recovery or recycling.
- Other Precious Metal Goods (Headings 7107, 7109, 7111, 7112, 7118): Duty aligned at 5% or 5.4%, depending on classification.
The notification, signed by Under Secretary Dheeraj Sharma, will come into force on May 13, 2026, impacting all imports cleared thereafter.
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