Gold Import Duty in India 2026

Why does India gold cost significantly more than the global COMEX price? India's import-duty structure, GST, rupee conversion, logistics, and dealer premiums create the gap. This guide explains every layer with live data updated daily.

Live reference - updated daily

Rs 151,577

India gold /10g

$4,365

COMEX gold /oz

94.95

USD/INR

+15.7%

India premium

Latest local update: 2026-06-06 18:10 UTC. Educational reference only.

Current India Gold Import Duty Structure

Component	Rate	Applied on
Basic Customs Duty (BCD)	6%	CIF value of gold
Agriculture Infrastructure Development Cess (AIDC)	5%	CIF value of gold
Social Welfare Surcharge (SWS)	10% of BCD	On BCD amount only
GST	3%	Domestic sale value
Total effective duty context	About 14%+	Before dealer/refinery margin

Full India Gold Price Breakdown vs COMEX

Cost layer	Approximate impact
COMEX gold converted to INR at spot	Base price
Basic Customs Duty	+6.00%
AIDC	+5.00%
Social Welfare Surcharge	+0.60%
GST	+3.00%
Refinery and dealer margin	Often +1% to +3%
India total vs COMEX	Typically +15% to +18%

Today's India physical gold premium is +15.71% above COMEX conversion, using the PMDesk IBJA-vs-COMEX reference model.

How USD/INR Affects India Gold Price

India gold price moves with two variables: global COMEX gold in USD and the USD/INR exchange rate.

When COMEX gold falls but the rupee weakens, India gold can stay flat or rise.
When COMEX gold rises but the rupee strengthens, the India price rise can be cushioned.
Every 1% rupee depreciation adds roughly 1% to India gold price independently.
Today's USD/INR reference is 94.95.

Import Duty History

Year	Basic duty	Approximate total context
2013	10%	About 13%
2019	12.5%	About 15%+
2021	7.5%	About 10.75%
2024	6%	About 9% before later changes
2026	6%	About 14%+ with AIDC context

Frequently Asked Questions

Does import duty apply to gold jewellery?

Yes. Imported gold jewellery and imported gold used in jewellery supply chains carry customs-duty effects. Domestic making charges and GST can make retail invoices differ from benchmark rates.

Does import duty apply to gold ETFs?

Gold ETF pricing reflects physical gold market costs embedded in the fund structure. Investors should read each scheme document for tax, expense ratio, and tracking-difference details.

How often does import duty change?

Import duty can change during the Union Budget or through CBIC notifications. Always verify current rates at official CBIC sources before using a duty assumption.

Track India Gold Premium Daily

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Educational market intelligence only. Not SEBI registered investment advice. Not personalized financial advice. No trade calls or price targets. Verify official exchange, CBIC, GST, IBJA, and dealer data before making decisions. pmdesk.org