How much Gold you can carry back to India ?: Baggage rules as prescribed by Indian Customs for passage though airport
IMPORTOF GOLD AS BAGGAGE –
A Passenger eligible to import Gold (studded jewellery is excluded) in the Baggage is:
1) Anypassenger of Indian Origin or a passenger holding a valid
Passport,issued under the Passport Act, 1967,
2) who is coming to India after a period of not less than sixmonths of stay abroad; and short visits, if any, madeby the passenger during the aforesaidperiod of six months shall be ignored if the total duration of stay on such visits does notexceed thirty days.
Thus, excepteligible passenger who satisfy above conditions, no other Passengers are allowed to import gold inbaggage.
OtherConditions
(i) The duty shall bepaid in convertible foreign currency.
Concessional rate ofduty @ 10% is applicable for gold to Indian passport holders and persons ofIndian origin if stay abroad is for more than 6 months. Short visits upto atotal of 30 days during the six months shall be ignored.
(ii) The weight ofgold should not exceed 1 kg. per passenger.
(iii) The passengercan either bring the gold himself at the time of arrival or import the samewithin fifteen days of his arrival in India as unaccompanied baggage.
(iv)The passenger can also obtain the permitted quantity of gold from Customsbonded warehouse of State Bank of India and Metals and Minerals TradingCorporation subject to conditions (i) and (ii) above. He is required to file adeclaration in the prescribed Form before the Customs Officer at the time ofarrival in India stating his intention to obtain the gold from the Customsbonded warehouse and pay the duty before clearance.
The Indianpassengers who have been residing abroad for over one year can import jewelleryfree of duty upto an aggregate value of Rs 50,000/- by a gentleman passengerand Rs 1,00,000/- by a lady passenger.
Referece:
http://www.customsmumbaiairport.gov.in/forms/Content.aspx?LinkID=203
A Passenger eligible to import Gold (studded jewellery is excluded) in the Baggage is:
1) Anypassenger of Indian Origin or a passenger holding a valid
Passport,issued under the Passport Act, 1967,
2) who is coming to India after a period of not less than sixmonths of stay abroad; and short visits, if any, madeby the passenger during the aforesaidperiod of six months shall be ignored if the total duration of stay on such visits does notexceed thirty days.
Thus, excepteligible passenger who satisfy above conditions, no other Passengers are allowed to import gold inbaggage.
OtherConditions
(i) The duty shall bepaid in convertible foreign currency.
Concessional rate ofduty @ 10% is applicable for gold to Indian passport holders and persons ofIndian origin if stay abroad is for more than 6 months. Short visits upto atotal of 30 days during the six months shall be ignored.
(ii) The weight ofgold should not exceed 1 kg. per passenger.
(iii) The passengercan either bring the gold himself at the time of arrival or import the samewithin fifteen days of his arrival in India as unaccompanied baggage.
(iv)The passenger can also obtain the permitted quantity of gold from Customsbonded warehouse of State Bank of India and Metals and Minerals TradingCorporation subject to conditions (i) and (ii) above. He is required to file adeclaration in the prescribed Form before the Customs Officer at the time ofarrival in India stating his intention to obtain the gold from the Customsbonded warehouse and pay the duty before clearance.
The Indianpassengers who have been residing abroad for over one year can import jewelleryfree of duty upto an aggregate value of Rs 50,000/- by a gentleman passengerand Rs 1,00,000/- by a lady passenger.
Referece:
http://www.customsmumbaiairport.gov.in/forms/Content.aspx?LinkID=203
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