Posted by : Aahil Shaik Thursday, March 9, 2017
LIMIT OF GOLD INDIANS CAN CARRY THROUGH AIRPORTS WITHOUT DUTY FEE
Indians living abroad for more than one year can now carry gold ornaments duty free through Indian airports, Male passengers can carry gold jewelry worth 50,000/- Rupees, while Female passengers can carry Gold ornaments worth Rs 100,000/-. Trending : India sets limit of gold to be in home
India is one of the world's largest and biggest consumer of the 'Gold', Indians adore this precious metal. Indian expatriates living abroad love to buy gold due to its high quality and low prices at foreign. Recommend : Man caught with 3 Kg gold at Dammam
CHILDREN ALSO APPLICABLE TO BRING GOLD IN INDIA :
- 50,000 Rupees limit for male passenger gives you 20 grams of gold on passenger, While ladies will can get 100,000 Rupees gold ornaments, If you have a child more than 1 year, He or she is also applicable to bring in duty free.
- This yellow metal gold can also be use as an asset in India, As you can convert it to money in case of emergency, Newly wed brides wears lots of gold in India as part of their tradition, Some people invests on gold to get benefits in future. Similar : Limit of cash allowed to carry in Saudi Airports
BRINGING GOLD BISCUIT OR GOLD COIN OR GOLD BULLION :
Gold Biscuit, Bullion or Coin is not allowed in duty free, You need to pay duty tax on it, Only Gold ornaments or Jewelry is duty free.
BRINGING GOLD MORE THAN SPECIFIED LIMIT :
If you bring gold more than the specified limit, then you need to pay duty tax of 10.3%, If you stayed 6 months or above in abroad. If you stayed abroad less than 6 months then you need to pay 36.05% of duty tax fee. You May Like : Saudi Arabia rejects proposal of charging tax on expats remittances
HOW MUCH GOLD YOU CAN BRING BY PAYING DUTY FEE :
You can bring up to 1 Kg of Gold if you want to pay duty tax, It can be in any manner, Gold coin, Biscuit or Jewelry. But you must need to stay 6 months abroad to bring it.
- If you visited India in short visits less than 30 days, Then it will be negligible and you are eligible to bring gold about 1 Kg by paying duty tax fee. See Also : Saudi Arabia will Tax first time in History
IS IT COMPULSORY TO MENTION BRINGING GOLD IN CUSTOMS FORM :
If you carry gold more than the specified limit, Then you must need to specify in customs declaration form, If you caught with more than the specified limit of gold without mentioning in customs form you will be asked to pay a high penalty or you may get arrested.