On Sunday, Mukesh Nelavalli also won an individual bronze in the event, his sixth medal of the competition, shooting a total of 548 over 60-shots. Azerbaijan's Imran Garayev won the gold with a score of 552.
As a 14-year-old, Vihan had grabbed four gold medals at Shotgun Nationals Championship last year.
Then the air rifle women's team consisting of Arya Borse, Zeena Khitta and Ramita downed the Korean trio of Yeeun AN, Eunji Kwon and Jeongin Jang 17-9 in the title decider to give India the third gold of the day.
The Meerut-based Vihan shot 73 in the final after topping the qualification earlier in the day. The gold went to 34-year-old South Korean Hyunwoo Shin and bronze to 42-year-old from Qatar, Hamad Ali Al Marri.
The number of Indian teenagers winning medals at the big stage has gone up exponentially
Bhanwala, who had made history by winning a gold at the CWG in Gold Coast earlier this year, could not repeat Friday's fine qualification performance on the second day of qualification.
Following is the schedule of Indian contingent on the fifth day of the Asian Games.
Iran ended seven-time champions India's unchallenged kabaddi domination in the Asian Games since the sport was first introduced in 1990.
A summary of sports events and sports persons, who made news on Tuesday
The best-ever medal haul at the 2018 Asian Games is a leap forward for India sport after the Commonwealth Games medal spurt.
Virat Kohli? M C Mary Kom? Neeraj Chopra?