SRINAGAR: The government collected Rs 10,463 crore in customs duty on imports of gold, silver and platinum between May 13 and August 2, 2026, following an increase in the effective import duty on precious metals, the Lok Sabha was informed on Monday.
Gold accounted for the bulk of the revenue at Rs 10,040 crore, while silver contributed Rs 328 crore and platinum Rs 95 crore, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha.
The government raised the effective import duty on gold and silver from 6 per cent to 15 per cent and on platinum from 6.4 per cent to 15.4 per cent with effect from May 13.
Chaudhary was responding to a question from Trinamool Congress MP Mala Roy regarding the revenue generated from the duty increase and the extent of gold smuggling following its implementation.
Customs authorities also recorded 287 cases of illegal gold imports between May 13 and June 30, with 160.91 kg of gold seized and 116 people arrested, according to the minister’s reply.
On the estimated quantity of unused gold held by households in India, Chaudhary said the government does not maintain such data.
India is among the world’s largest holders of gold in households.
