Budget 2026: No Change in Gold, Silver Import Duty; Market Reacts Negatively

• Finance Minister Nirmala Sitharaman's Budget 2026 made no changes to custom duty rates on gold and silver imports.
• Importers will continue to pay custom duty at existing rates, signaling no new relief for bullion imports.
• Currently, gold imports face a total of 6% custom duty (5% Basic Custom Duty + 1% AIDC), plus 3% GST.
• Silver imports for eligible Indian residents also incur 6% duty, while other importers face 36% (35% Basic Custom Duty + 1% AIDC), plus 3% GST.
• The government had previously reduced gold custom duty from 15% to 6% on July 24, 2024, with no further changes in Budget 2026.

Why It Matters: Budget 2026 maintained existing gold and silver import duties, leading to negative market reactions.