India’s customs duty structure on precious metals and related products has undergone a significant restructuring as part of a broader policy to rationalise levies under Chapter 71 of the Customs Tariff. The government’s intent is to calibrate the effective import burden on gold, silver, platinum, and related items — including jewellery components and industrial inputs such as spent catalysts — to protect foreign exchange reserves, manage the current account position, and close existing gaps in the duty structure for precious metal products. Notification No. 16/2026-Customs, issued on May 12, 2026, amends two existing notifications — Notification No. 11/2018-Customs dated February 2, 2018 and Notification No. 11/2021-Customs dated February 1, 2021 — which govern the Social Welfare Surcharge (SWS) and the Agriculture Infrastructure and Development Cess (AIDC) applicable on precious metal imports.

The amendments made through Notification No. 16/2026-Customs are as follows:

In Notification No. 11/2018-Customs:

(i) Against Sl. No. 1, in column (2), for the figures “7108,”, the figures “7107, 7108, 7109, 7111, 7112,” shall be substituted;

(ii) Sl. No. 54A and the entries relating thereto shall be omitted;

(iii) For Sl. No. 56A and the entries relating thereto, the following Sl. No. and entries shall be substituted, namely:

“56A. All goods falling under heading 7118.”

In Notification No. 11/2021-Customs:

(i) Against Sl. No. 15A, in column (4), for the entry, the entry “5.4%” shall be substituted;

(ii) Against Sl. No. 15B, in column (4), for the entry, the entry “4.35%” shall be substituted;

(iii) Against Sl. No. 15C, in column (4), for the entry, the entry “4.35%” shall be substituted;

(iv) Against Sl. No. 15D, in column (4), for the entry, the entry “5%” shall be substituted;

(v) For Sl. No. 15E and the entries relating thereto, the following Sl. No. and entries shall be substituted, namely:

“15E. 7112 — Spent catalyst or ash containing precious metals — 4.35%” — subject to the condition that the importer follows the procedure set out in the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022, and further provided that the importer at the time and place of clearance: (a) gives an undertaking to the Deputy Commissioner of Customs or Assistant Commissioner of Customs, as the case may be, regarding the percentage of precious metals contained in spent catalyst or ash and to the effect that the goods are imported for recovery of precious metals; and (b) produces a certificate from the Ministry of Environment, Forest and Climate Change permitting import of spent catalyst or ash for recovery or recycling purposes.

(vi) After Sl. No. 15E, the following Sl. No. and entries shall be inserted, namely: “15EA. 7112 — All goods other than those mentioned at Sl. No. 15E — 5%”;

(vii) For Sl. No. 15F, the following shall be substituted: “15F. 7113 — (i) Gold findings; (ii) Silver findings; (iii) Platinum findings — 5%, 5%, and 5.4% respectively.” For the purposes of this entry, findings mean a small component such as hook, clasp, clamp, pin, catch, or screw back used to hold the whole or a part of a piece of jewellery in place.

(viii) For Sl. No. 15G, the following shall be substituted: “15G. 7118 — All goods — 5%”;

(ix) After Sl. No. 15G, the following Sl. Nos. shall be inserted: “15H. 7107 00 00 — All goods — 5%; 15I. 7109 00 00 — All goods — 5%; 15J. 7111 00 00 — All goods — 5.4%; 15K. 7106, 7108 — Gold and Silver covered under Sl. No. 1 of TABLE of Notification No. 57/2000-Customs dated May 8, 2000 — 4.35%; 15L. 71 — All goods on which exemption from basic customs duty is claimed and allowed under Notification No. 57/2000-Customs, dated May 8, 2000, other than those mentioned at Sl. No. 15K — Nil.”

In Notification No. 11/2021-Customs, Sl. No. 11 in the Annexure and the entries relating thereto shall be omitted.