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Tax on Importing Gold from abroad
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Customs Duty-Free Allowance can be availed of by Indian passenger who has been residing abroad for over one year, is different.
For a man, the rate is Rs. 50,000, and for a woman, the rate is Rs. 1,00,000.
Gold ornaments that are brought into the country that exceed these limits will be subject to a 15.00% customs duty (10% Custom Duty + 5% Agriculture Infrastructure Cess).
To pay custom duty at a discounted rate, it is better to carry foreign currency or U.S. Dollars. If custom duty is paid in Indian Rupees, the custom duty applicable is 15.00%.
The Central Board of Indirect Taxes and Customs (CBIC) has launched a new mobile app named “ATITHI” for improved customs clearance.
It will also facilitate arriving international passengers with e-filing of baggage and currency declarations.
It is expected to increase the transparency of customs functioning and reduce interface.
Source: Guide for travelers, totaram
For a man, the rate is Rs. 50,000, and for a woman, the rate is Rs. 1,00,000.
Gold ornaments that are brought into the country that exceed these limits will be subject to a 15.00% customs duty (10% Custom Duty + 5% Agriculture Infrastructure Cess).
To pay custom duty at a discounted rate, it is better to carry foreign currency or U.S. Dollars. If custom duty is paid in Indian Rupees, the custom duty applicable is 15.00%.
The Central Board of Indirect Taxes and Customs (CBIC) has launched a new mobile app named “ATITHI” for improved customs clearance.
It will also facilitate arriving international passengers with e-filing of baggage and currency declarations.
It is expected to increase the transparency of customs functioning and reduce interface.
Source: Guide for travelers, totaram
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