The price of gold has risen again today. Gold price has also accelerated on the MCX with the international market. At MCX on Friday, the price of gold rose by Rs 68 to Rs 34285 per 10 grams. There is also an increase in the price of silver. Silver is trading at Rs 37221 per kg with a rise of Rs 146 in the morning at 10 am.
It is known that Finance Minister Nirmala Sitharaman will present the first general budget of the second term of the Narendra Modi government. In such a scenario, everyone's eyes on this budget is how much relief they will get from this budget. At the same time, people of every sector are also putting enough expectations from this budget. Among them, the gems and jewelery industry wants to reduce the import duty of gold.
Demand to cut import duty on gold
There is a 13 percent tax on gold, which includes 10 per cent import duty and 3 per cent GST, due to which it does not fit into any GST slab. Therefore, it is expected that the import duty on gold can be cut by 1 per cent. After which these 12 percent will come in the GST slab.
