Banks paying 3% IGST on gold imports since April 2026: Revenue Secretary

Banks have been paying 3% Integrated Goods and Services Tax (IGST) on gold and other precious metal imports since April 1, 2026, Revenue Secretary Arvind Shrivastava said. The move aims to ensure tax parity on gold and other metal imports through different routes, he said. Banks were exempted from IGST on gold, silver and platinum imports in 2017.