Jayantilal challani - Latest News Update, Information, Photos & Videos on Jayantilal challani at Lokmat Times

Chennai, July 1 The increase in customs duty on gold will not have any major impact on the yellow metal's demand or the price, said a top official of Madras Jewelers and Diamond Merchants Association.Nor the duty hike will result in any increased smuggling activity of the yellow metal, he added.On Thursday, the central government increased the customs duty on gold from 10.75 per cent to 15 per cent to curb gold imports.The government said, there has been a sudden surge of gold imports.In May, a total of 107 ton of gold was imported and the import volume last month was also significant, the government said."The surge in gold imports is putting pressure on current account deficit. To curb import of gold, customs duty has been increased from present 10.75 per cent to 15 per cent," the government reasoned.Speaking to Jayantilal Challani, President, Madras Jewelers and Diamond Merchants Association and a partner in Challani Jewelry Mart said the duty hike will not have any major impact on the demand or the price as the government has scrapped the surcharge.He said the duty hike may not also result in any increased smuggling activity as it will go on whether the duty is low or high.India is the second largest importer of gold.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Mega Block

Maharashtra Lok Sabha Election

T20 World Cup 2024

Jayantilal ChallaniFOLLOW

Jayantilal challani, Latest News

International :'Gold prices on the upward trend, to touch Rs 60,000/10 gms soon'

Chennai, Jan 16 Gold prices are expected to touch Rs 60,000/10 grams 24-carat shortly with the rates touching ... ...

International :'Increase in import duty on gold, will not have major impact on demand'

Chennai, July 1 The increase in customs duty on gold will not have any major impact on the ... ...