Gold-Silver Custom Duty Unchanged in Budget 2026: What it Means for Prices

• Budget 2026 maintained existing customs duty rates on gold and silver imports, meaning no immediate change in import costs.
• Gold imports continue to incur a 6% customs duty (5% BCD + 1% AIDC).
• Silver imports face a 6% duty for eligible residents, while others pay 36% (35% BCD + 1% AIDC).
• The Gems and Jewellery sector had lobbied for duty reductions and a lower GST (from 3% to 1.25%) on gold and silver jewelry.
• Despite unchanged duties, gold and silver futures saw significant drops (up to 9%) on February 1st due to profit booking.

Why It Matters: Budget 2026 kept gold and silver customs duties unchanged, but market prices still saw fluctuations.