Smuggling to avoid taxes to boost Indian gold imports to record
By GCRU Gold News on Thursday, May 12 2016, 06:54 - Permalink
India's gold imports could hit a record high this year amid widespread smuggling to sidestep government levies on overseas shipments
Levin said he expects 15 percent of India's gold this year to be "smuggled in" or arrive via "other unofficial channels" to beat a 10 percent levy imposed by the government.
Levin also said more semi-refined gold, known as gold dore, was being imported from overseas mining companies because of a lower government levy.