Finance Ministry cold to slashing import duty, GST on gold

With India’s trade and current account deficits widening, the finance ministry is ‘not in favour’ of reducing the import duty and GST on gold as was suggested by a panel set up by the NITI Aayog. The panel, headed by NITI Aayog’s principal economic adviser Ratan P Watal, recommended reduction in the import duty and GST, which is now being levied at the rate 10% and 3%, respectively, to double gold…