Rumor
India's GST Council was expected to consider ending a precious-metal import tax exemption on October 7
The Economic Times, citing sources, reports the exemption covers gold, silver and platinum imported by banks and nominated agencies.
TLDR
The Economic Times, citing sources, reported that India's GST Council was likely to consider withdrawing the exemption at its October 7, 2026, meeting. Gold, silver and platinum imports normally face 3% IGST, but imports by banks and nominated agencies have been exempt since 2017.
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