Ahmedabad: Call it the effect of sky-rocketing gold prices, or an upward swing in duty, the quantity of primary silver and gold (bars) being brought in by passengers at the city’s airport has seen a dip in 2011-12 as compared to the previous fiscal.
Data available from the customs department has shown that in the financial year 2010-11 about 36 kg (36,177.04 grams) of gold bars passed through the Sardar Vallabhbhai Patel International (SVPI) airport, which earned the department nearly Rs24.43 lakh by way of duty on the commodity.
Compared to this, in 2011-12, the quantity of gold bars brought in through the airport saw a significant drop. Passengers carried 22 kg (22,412.51 grams) of gold bars through the city airport, lower than the previous year by around 14 kg (13,764.04 gm). In 2011-12, the customs department earned Rs18.52 lakh by way of duty on the same. The fall in duty as against the previous year was Rs5.9 lakh.
03/05/12 Smitha R/Daily News & Analysis
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