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How much gold can I carry to India without customs?
However, you won't be paying customs only up to the aggregate weight of XX Grams, subject to a maximum value of Rs 50,000 in the case of a male passenger. In the case of a female passenger, the weight is up to 40 Grams of gold, subject to a maximum value of Rs 100,000.
Who can import gold as baggage?
Ans. Any passenger of Indian Origin or a passenger holding a valid passport, issued under the Passport Act, 1967, coming to India after a period of not less than six months of stay abroad. However, short visits during these six months shall be ignored if the total duration of such short visits does not exceed 30 days and the passenger has not availed of the exemption under this scheme, at the time of such short visits. Except for these passenger, no other passengers are allowed to import gold in Baggage. Conditions:
(i) The duty shall be paid in convertible foreign currency
(ii) Concessional rate of duty @ 12.5% + Social Welfare Surcharge @ 1.25% is applicable for gold to Indian Passport holders and persons of Indian origin if stays is for more than 6 months. Short visits up to a total of 30 days during the six months shall be ignored.
(iii) In cases other than those mentioned in
(ii) above, normal rate of Customs Duty @ 38.5% will be charged.
(iv) The weight of gold (including ornaments) should not exceed 1 Kg. per person.
(v) The passenger can either bring the gold himself at the time of arrival or import the same within fifteen days of his arrival in India.
(vi) The passenger can also obtain the permitted quantity of gold from Customs bonded warehouse of State Bank of India and Metals and Mineral Trading Corporation subject to conditions
(i) and (ii) above. He is required to file a declaration in the prescribed Form before the Customs Officer at the time of arrival in India stating his intention to obtain the gold from the Customs bonded warehouse and pay the duty before clearance.
(vii) The rate of duty levied would be as follows: S.No. Description of Goods Rate 1. Gold bars, other than tola bars, bearing manufacturer's or refiner's engraved serial @ 12.5% + Social Welfare Surcharge @ 1.25%
Learn below url for more :
www.cbic.gov.i...
www.cbic.gov.i...
www.cbic.gov.i...
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How much gold can I carry to India without worrying about duties?
Welcome to this informative video about bringing gold from Singapore, Malaysia, and Dubai to India. In this video, we will explore the legality and regulations surrounding the importation of gold into India, as well as provide helpful tips and advice for travelers.
Many people are interested in purchasing gold in countries like Singapore, Malaysia, and Dubai, where it is often cheaper and of higher quality than in India. However, there are strict regulations in place that govern the amount of gold that can be brought into the country and the documentation required.
Our expert guide will explain the legal framework surrounding gold importation into India, including the customs duties and taxes that must be paid, as well as the documentation required to ensure a smooth and hassle-free process. You will also learn about the restrictions on the amount of gold that can be imported and the penalties for violating these regulations.
We will also provide practical tips and advice for travelers who are considering bringing gold into India, including how to properly declare and document the gold, as well as how to safely transport it.
This video is perfect for anyone who is interested in purchasing gold from Singapore, Malaysia, or Dubai and bringing it into India. Whether you are a seasoned traveler or a first-time visitor to India, this video will provide you with valuable information and advice to ensure a successful and legal importation process.
So join us on this informative journey and learn everything you need to know about bringing gold from Singapore, Malaysia, and Dubai to India. Don't forget to like and subscribe for more helpful travel tips and information.
9 сен 2024
