Indian travellers to Dubai have long bought gold from the Middle Eastern destination as gold is cheaper there. Indians, who see gold as a safe haven investment and use gold heavily at weddings, always keep eye out for cheaper gold.
Thus, against the backdrop of the arrest of the Kannada actress Ranya Rao for alleged gold smuggling, let's take a look at how much gold you can legally bring from Dubai to India without paying customs duty on it.
According to the Central Board of Indirect Taxes and Customs, Indian travellers can bring up to 1 kg of gold in baggage from Dubai after a stay of more than six month, by paying duty. Indians are allowed to bring back gold coins and gold bars from Dubai.
Indians carrying gold above the permitted limit should declare their “dutiable” gold and enter the red channel to ensure legality.
Men can bring 20 grams of gold, not exceeding ₹50,000 in value from Dubai to India, in the form of gold bars and gold coins, without paying any customs duty.
Women can bring 40 grams of gold not exceeding ₹1 lakh in value from Dubai to India, in the form of jewellery, gold bars, or gold coins for personal use, without attracting any customs duty.
Women can bring 40 grams of gold not exceeding ₹1 lakh in value from Dubai to India, in the form of jewellery, gold bars, or gold coins for personal use, without attracting any customs duty.
Children under the age of 15 years can bring gold not exceeding 40 grams from Dubai to India, in the form of ornaments, gifts or presents.
All returning passengers carrying gold must have proper documentation of the gold purchased for verification by customs officials.
Children must have identity proof of their relationship with the accompanying adult(s).
Customs duty on gold exceeding limit:
For men: For gold brought exceeding 20 gms, up to 50 gms — custom duty rate of 3 percent is applied.
Between 50 and 100 gm, 6 percent.
Over 100 gm, 10 percent.
For women and children: For gold brought in exceeding 40 gm, up to 100 gm— custom duty rate of 3 percent is applied. Between 100-200 gm, 6 percent.
(By arrangement with livemint.com)