The CBIC vide Notification No. 05/2024 – Customs on January 22, 2024, amending Notification No. 11/2021 dated February 1, 2021. The amendment imposes Agriculture Infrastructure and Development Cess (AIDC) on items falling under tariff headings 7112, 7113, and 7118. The new rates are set at 4.35% for spent catalyst or ash containing precious metals (7112), 5% for gold or silver findings (7113), and 5% for coins of precious metals (7118). The notification clarifies that “gold or silver findings” refers to small components used in jewelry, such as hooks, clasps, and pins.
The Notification can be accessed at: https://taxinformation.cbic.gov.in/view-pdf/1009996/ENG/Notifications