Smuggling continues to rise on hike in Gold import duty in India

With the government decision to hike import duty on gold from 8% to 10% recent, smuggling of gold in the country is being increasingly reported from various airports in the country. The latest incident at Kochi International Airport involved a passenger from Sharjah tried to smuggle 5 kg of gold bars concealing it under the seat of the Jet Airways plane and was caught by the Customs Officials.

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