Government cuts import tariff value of gold, silver

The government on Monday slashed the import tariff value of gold to $421 per ten grams and that of imported silver to $709 per kg, considering the falling trend in global prices. Tariff value is the base price on which the customs duty is determined to prevent under-invoicing.       Last month, the tariff value of gold was at $459 per 10 grams and silver at $737 per kg.      The notification in this regard has been issued by...