CAWhatsApp CACall Us CAEmail Us
Schedule A Call Today
Call

Contact Details

info@dineshaarjav.com +91-9899969645 +91-11-43095042 +91-11-22378870
Head Office Image

Head Office

8, Rishabh Vihar, New Delhi - 110092, India
Branch Office Image

Branch Office

411, Kailash Building, 26, K. G. Marg, Connaught Place, New Delhi - 110001, India
How Much Gold Can NRI Bring to India How Much Gold Can NRI Bring to India
  • Home /
  • Blog Details
Blog Details
July 24, 2024
  • facebook
  • twitter
  • linkdien

How Much Gold Can NRI Bring to India? A Complete Guide

Who is Eligible to Bring Gold Into India?

Any NRI, OCI, or Indian citizen who has been residing abroad for more than six months is eligible to bring gold into India.

What is the Maximum Amount of Gold You Can Carry to India?

NRIs can carry up to 10,000 grams of gold to India once every six months, provided they have stayed abroad for at least six months. However, only a portion of this gold is duty-free, with the remainder subject to customs duties.

Here’s a detailed breakdown of the duty-free limits and the amounts you can bring:

  • Male Passengers: 20 grams - Value Limit: ₹50,000
  • Female Passengers: 40 grams - Value Limit: ₹1,00,000
  • Children: 20/40 grams - Value Limit: ₹50,000/₹1,00,000 (Based on Gender)

What Forms Of Gold Can Be Brought Into India?

You can bring gold in the following forms, as long as the weight or value does not exceed the specified limits:

  1. Gold Jewelry
  2. Gold Bars
  3. Gold Coins

What is the Customs Duty on Gold?

Gold Bars:

  • Less Than 1kg Per Passenger: Customs Duty - 10% of the gold's value
  • 20-100 Grams: Customs Duty - 3%
  • Less Than 20 Grams: No customs duty

Gold Jewelry (Female Passengers):

  • Up to 40 grams: No customs duty
  • 40-100 grams: 3% customs duty
  • 100-200 grams: 6% customs duty
  • Over 200 grams: 10% customs duty

Note: The customs duty is calculated based on the exact value of the gold purchased.

Gold Findings:

Starting January 22, 2024, the import duty on gold and silver findings, such as hooks and clips used in jewelry making, has been increased to 15%. This includes:

  • Basic Customs Duty (BCD): 10%
  • Agriculture Infrastructure Development Cess (AIDC): 5%
  • No Social Welfare Surcharge (SWC)
  • Previously, the duty was 10% with no AIDC

What Documents Should You Carry?

To ensure accurate valuation and customs duty calculation, it is crucial to carry proper documentation, including:

  • Purchase Invoices
  • Certificates indicating the purity and quantity of the gold

Lack of proper documentation can lead to penalties, increased duties, and potential confiscation of the gold.

Key Points to Remember

1. Maximum Weight: You can bring up to 10,000 grams of gold per person once every six months.

2. Gold Forms: Gold can be brought in as jewellery, bars, coins, or other ornaments.

3. Customs Duty: Be prepared to pay customs duty on gold that exceeds the duty-free limit or is in forms other than jewellery.

4. Frequency: You can bring gold into India once every six months.

5. Residency Requirement: You must have stayed abroad for at least six months to be eligible.

6. Declare to Customs: Always declare the gold to customs officials upon arrival.

7. Proper Documentation: Keep purchase receipts and certifications handy.

8. Stay Informed: Customs rules can change, so verify the latest information before your trip.

By understanding these guidelines, you can avoid complications and ensure a smooth process when bringing gold into India.

Latest Posts