Import duty hike likely to weigh on stocks of gold jewellery retailers
The hike in import duty on gold is designed to dampen import demand. The basic duty hike to 12.5 per cent from 7.5 per cent also has a load of 3 per cent goods and services tax (GST). This hike is designed to ease pressure on the country’s trade account and the rupee.
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First Published: Fri, July 01 2022. 20:50 IST