Finance Ministry in favour of fixing GST rate on gold at 3%, not keen to cut import duty as of now

Fearing that the cut in gold import duty may make gold bond scheme less viable, some government sources told ET Now that the Finance Ministry is in favour of fixing the GST rate on gold at 3% and it is not keen to cut the import duty on gold as of now. The sources further said that the industry has recommended 4% cut in import duty on gold. “Industry has asked for same rate for gold jewellery maki…