India, the world’s biggest gold buyer, may increase import taxes for a second time this year as it seeks to narrow a widening current-account deficit, curbing demand for bullion in jewelry and investment.
“There’s a feeling that the government is looking at increasing the duty again, maybe to 8 percent,” said Bachhraj Bamalwa, chairman of the All India Gem & Jewellery Trade Federation. “The industry fears they may re-impose the excise tax, which was scrapped last year.” The levy is now 6 percent.
more... http://www.businessweek.com/news/2013-02-20/india-seen-boosting-gold-import-duty-second-time-to-cut-deficit
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