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Excise duty on branded gold coins scrapped
Posted on: 02/Dec/2016 11:13:27 AM
One percent excise duty was imposed on branded gold coins from 2011. Now the Central Board of Excise and Customs has said excise duty will be nil on gold coins of purity 99.5 per cent and above, bearing a brand name when manufactured from gold on which appropriate duty of Customs or excise has been paid.
It is expected that the rates of the gold coins may come down.
Excise duty on branded silver coins continues to be exempted.
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