CBIC Imposes Additional Duty On Customs On Spent Catalyst Or Ash Containing Precious Metals, Gold Or Silver Findings And Coins Of Precious Metals

The Central Board of Indirect Taxes and Customs (CBIC) has imposed an additional duty on customs (AIDC) on spent catalysts or ash containing precious metals, gold or silver findings and coins of precious metals.

The amendment imposes Additional Duty on Customs (AIDC) on items falling under tariff headings 7112, 7113, and 7118. The revised rates are set at 4.35% for spent catalyst or ash containing precious metals (7112), 5% for gold or silver findings (7113), and 5% for coins of precious metals (7118).

The notification clarifies that “gold or silver findings” refer to small components used in jewellery, such as hooks, clasps, and pins.

Notification No. 05/2024 - Customs

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