Duty-Free Gold Jewellery: Gold is traded in India (Gold Price Today) in physical and digital forms. The government controls the gold trade through customs. Custom duty is levied on bringing gold from abroad but duty free gold can be brought up to a certain limit. Up to 20 grams of gold for men and 40 grams of gold for women can be brought without duty.
Duty-Free Gold Jewellery: Gold is traded in many forms in India, including both physical and digital. People trade in gold in the form of jewellery, coins, bars and investment assets. At the same time, the government carefully controls the gold trade through duties/tariffs. Custom Duty is a type of tax, which is levied on things imported from other countries.
Similarly, when gold is brought to India from other countries, custom duty is also levied on it. If you bring gold to India, there is a limit for zero custom duty, if you bring more gold than that, you will have to pay duty.
You have to tell how much gold you have brought
A person can bring any kind of gold jewellery, coins or bars from abroad to India. But, you will have to declare these gold items at the custom duty kiosk. After this, the custom duty officer will calculate the applicable customs duty according to the amount of gold.
But it is not true that you will have to pay customs duty no matter how much gold you bring, rather this fee is not charged if you bring gold up to a certain limit.
What is the limit and custom duty for men
- Male passengers are allowed to bring 20 grams or ₹50,000 worth of duty free gold from abroad. However, the rate of gold is around Rs 1 lakh, so the limit of 20 grams is no longer practical
- 3% custom duty is applicable on bringing 20 to 50 grams of gold
- 6% custom duty is applicable on bringing 50 to 100 grams of gold
- 10% custom duty is applicable on bringing more than 100 grams of gold
What is the rule for women
- Women passengers can bring gold up to 40 grams or ₹1 lakh without any customs duty. But due to the high gold rate, the 40 gram limit is no longer practical here either
- 3% customs duty is applicable on gold from 40 to 100 grams
- 6% customs duty is levied on gold from 100 to 200 grams
- 10% customs duty is levied on imported gold above 200 grams
Rules for children too
Children below 15 years of age are subject to the same customs rules as women travellers. However, they must carry documents as proof of purchases.
