Gold Import Limit: How much gold can you bring from abroad, know what the rules say..

There has been a fluctuation in the price of gold in India. In such a situation, we keep an eye on the prices of gold abroad. Many times you have also heard that gold is cheaper in Dubai. In such a situation, the question is justified how much gold can we bring from abroad? Today we will answer this in this article.

How much gold can be brought from abroad?
Let us tell you that there is a limit to bringing gold to India. If more gold is brought than the limit, then a duty has to be paid. According to the rules, any Indian person can bring 20 grams of jewelry worth Rs 50,000 in a year. At the same time, if any children live abroad for more than a year, then they get an additional limit in the gold limit.

How much customs duty has to be paid
Let us tell you that a duty-free allowance applies only to gold jewelry. If an Indian traveler brings gold bars, coins, and other jewelry from abroad, then customs duty is charged according to their value. How much duty will be charged according to the weight of gold-

A 10% customs duty is levied on gold bars weighing less than 1 kg.
A 3% customs duty is levied on gold bars weighing 20 grams to 100 grams.
No customs duty is levied on gold bars weighing less than 20 grams.
A 10% duty is levied on gold coins weighing 20 grams to 100 grams.
No customs duty is levied on gold coins weighing less than 20 grams.
If passengers bring gold jewelry worth not more than 20 grams and less than Rs 50,000, then no customs duty is levied on it.

Keep these things in mind.
Before bringing gold from abroad, you should have its necessary documents i.e. purchase receipt. You should be careful while bringing gold. You should take special care that you bring gold within the value and gender limit of gold.

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