Guide
Silver import duty in India, explained
India imports most of the silver it uses, so customs duty is built into every rate you see. Here is how it works and what it costs today.
On this page
The rate today
How the calculation works
Price in India = international price × USD/INR × 1.15 (duty) × 1.03 (GST)
Duty is applied first, then GST on the duty-paid amount. Here is today's kilogram of 999 silver, step by step:
Local rates also include the dealer's margin, transport and sometimes a premium or discount to the import parity price depending on demand. How we calculate our rates.
How the duty has changed
| Period | Duty | With 3% GST |
|---|---|---|
| Before 24 July 2024 | 15% | about 18.5% |
| 24 July 2024 to 12 May 2026 | 6% | about 9.2% |
| From 13 May 2026 | 15% (10% BCD + 5% AIDC) | about 18.5% |
The July 2024 Union Budget cut the duty to 6% to curb smuggling and help the jewellery trade. It went back to 15% in May 2026, a move reported to be aimed at the rupee and the import bill. Three days later, silver bars of 99.9% purity were moved to "restricted" imports. Read the May 2026 story.
What it means for buyers
- Higher prices: the same international silver costs about 8.5% more in rupees than it did under the 6% duty.
- A bigger gap with Dubai: UAE prices carry no import duty, so the difference with India widened. Compare the UAE silver rate.
- Duty changes move the price overnight: Indian rates jump or fall on the day a new rate applies, whatever the world price does.
Frequently asked questions
What is the current import duty on silver in India?
The effective rate on silver bullion is 15%, made up of 10% basic customs duty and a 5% Agriculture Infrastructure and Development Cess, in force since 13 May 2026.
Is GST charged on top of import duty?
Yes. 3% IGST is charged on the assessable value plus customs duty, so the total tax load is 1.15 × 1.03 − 1, about 18.5%.
Does the duty apply to silver I buy from a jeweller?
Indirectly. Almost all silver in India is imported, so the domestic price includes the duty the importer paid. That is why Indian prices sit well above the international price converted to rupees.
How much silver can I bring from abroad duty-free?
Baggage rules set duty-free limits for jewellery only, and they change from time to time. Silver bars and coins are dutiable. Check the current CBIC baggage rules before you travel.
Sources
Rules and figures checked on 29 September 2026. Live prices update on this page automatically.