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Thread: Silver: Customs Duty

  1. #1
    Join Date
    Oct 2008

    Silver: Customs Duty

    According to this link,, there is no import duty for bullion silver under code 7106. However, a 5% export duty is applicable. If you were to import silver as jewelery, you incur a 10% duty.

    I observe the spread for silver coins is very big and yet some forumers still buy. Probably, they expect a huge spike in price to compensate for the spread.

  2. #2
    Join Date
    Mar 2011
    According to me silver is also very precious metal. Investing in silver you can get more benefits from it. This is wrong that government increases the custom duty in silver. I have read your post and import silver as jewelery that we have to pay 10% duty as you said.

  3. #3
    Join Date
    Mar 2011
    Importing silver coins there is a different tariff code:-

    - Coin (other than gold coin), not being legal tender Import Tax 5% Sales Tax 10%

    - Gold coin Import Tax 0% Sales Tax 0%

    Customs can still squeeze a few bucks you

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