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Reducing gold import duty from 6% to 4% would directly lower the landed cost of imported gold, leading to modest reductions in consumer prices for gold jewelry, bars, and coins. So the middle class people are expecting Gold custom duty reduction in the upcoming budget.
After reducing several GST rates in September, the central and state governments are now preparing to address another major issue in the tax system inverted duty structures, according to two government insiders. An inverted duty structure arises when inputs attract higher taxes than the finished goods, leading to distorted pricing, tighter working capital, and long-drawn refund claims for business
