SRINAGAR: The Central Government has issued Notification No. 16/2026-Customs, introducing major amendments to customs duty rates and tariff classifications for precious metals, jewellery components and allied goods under the Customs Act, 1962.
Issued by the Ministry of Finance (Department of Revenue), the notification amends Customs Notifications No. 11/2018 and 11/2021 in the public interest. The revised provisions will come into force from May 13, 2026.
According to the notification, tariff headings under serial number 1 have been updated to include goods falling under headings 7107, 7108, 7109, 7111 and 7112. Serial No. 54A has been omitted, while Serial No. 56A has been substituted with a new entry covering all goods under heading 7118.
Significant changes have also been made to concessional customs duty structures under Notification No. 11/2021-Customs. Duty rates for categories including gold findings, silver findings, platinum findings, spent catalysts containing precious metals and related goods have been revised in the range of 4.35 per cent to 5.4 per cent.
The notification further introduces new serial entries 15H, 15I, 15J, 15K and 15L, covering various categories of gold, silver, platinum and exempted goods under tariff headings 7107, 7109, 7111 and allied chapters.
The Finance Ministry stated that imports of spent catalysts or ash containing precious metals for recycling or recovery will continue to attract concessional duty, subject to specified conditions, including certification from the Ministry of Environment, Forest and Climate Change and compliance with the Customs Rules, 2022.
Officials said the amendments aim to rationalise tariff classifications, streamline concessional duty structures and provide greater clarity in customs procedures for importers dealing with precious metals and jewellery-related goods.
