Niti Aayog suggests slashing import duty, GST rate on gold

In its latest report, the committee headed by Niti Aayog Principal Adviser Ratan P Watal said: "A reduction in the customs duty in the past in India has been argued to support tax compliance coupled with a significant reduction in the quantum of gold smuggled into India. "In this context, to create a tax compliant system within the sector, it is important to reduce the basic customs duty on gold to as low as possible."

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