The excise duty on gold coins was levied in 2011 as per reports. Some industry players view this as a good move to encourage organised retail within the Indian industry which by nature is largely unorganized. Also, the rule does not apply to the articles of goldsmiths’/ silversmiths’ wares of precious metal or of a metal clad enveloped in precious metal and bearing a brand name. Such items will be levied a 1 percent excise duty.
The excise duty on branded silver coins is exempted.