In a country like India, when we talk about jewelry; the majority of the people think of gold. Weird, but its true as gold is very popular in India and its price is rising every day. It is also a good medium of investment not only for the people living there but also for Indians traveling to India from all around the world.
But, it’s not as easy as it sounds. Importance of gold from one country to other needs to go through an ultra-high security at the airports and there are a number of limits and restrictions attached to the carrying and tax on gold too.
Here we are discussing all the necessary details regarding carrying gold in flights to India. This will help you to get effective steps while carrying gold in and out of the country.
CONDITIONS ATTACHED TO CARRYING OF GOLD:
There is number of rules or we can say that limits attached to the carrying of gold or silver or gold import India. Few of them are discussed below:
- The weight of gold must be less than 10 kg. It includes all the ornaments and is charged per passenger. On the other side, the weight of silver should be less than 100 kg per passenger.
- The time period linked to the passengers must be within 6 months and not more than that. Plus the short visits during this time span is ignored but the total duration of such short visit should be less than 30 days.
- If you are carrying any type of jewelry or ornament studded with pearls and other stone, then that will not be allowed to carry with you,
- The passengers are only allowed to carry gold or silver with them as baggage at the time of arrival or import.
- There is no restriction attached to the sale of gold in India.
- The value notified by the government of India is used to calculate the price of gold. Plus, this value can change from time to time depending on the market conditions.
- The duty on such stuff is paid in convertible foreign currency.
WHAT ARE RATES OF CUSTOM DUTY ON GOLD & SILVER?
|S.no.||Type of metal||Rate of Duty|
|1||Gold bars or gold coins||Rs 300 per 10 gm plus 3 percent educational cess|
|2||Gold in any other form||Rs 750 per 10 gm plus 3 percent educational cess|
|3||Silver in any other form||Rs 1500 per kg plus 3 percent educational cess|
RULES REGARDING DUTY-FREE IMPORT OF GOLD JEWELRY TO INDIA:
The passenger of Indian origin and who also stay abroad for more than a year are allowed to bring duty-free gold at the airport without any restriction. To carry duty-free gold can only be possible if you carry in the prescribed quantity. It can be in the form of jewelry as part of their baggage and must be up to an aggregate value which is described below:
- For male passengers: The limit for a male passenger to carry of gold is Rs. 50,000.
- For lady passengers: The limit for a female passenger to carry gold is Rs 1 Lakh.
WHO IS ELIGIBLE TO CARRY GOLD IN INDIA?
Only following passengers are allowed to carry gold with them while traveling to India:
- Any passengers of Indian origin: One who holds the Indian origin i.e. NRI, OCI, PIO, etc. and returning to India after a stay abroad of at least six months.
- Any passenger holding a valid passport under the Passport Act, 1967.
1. Customs Duty On Gold Jewelry:
While carrying gold in India, the quantity you can carry on flights varies from men to women. In case, you carry more than the prescribed quantity, then you need to pay the customs duty for it.
According to the rules, you are allowed to carry gold jewelry up to an aggregate value of Rs.50,000 if you are a male member and it is 1,00,000 for the female travelers.
There is no customs duty if the total value of jewelry carried is within the above limitations.
2. Customs Duty On Gold Bars:
Talking about the carrying of Gold bars, there is no duty-free allowance available for gold bars. Hence if you are carrying gold bars on a flight, then you definitely need to pay the customs duty for them. Depending on the gold purchased the percentage of duty tax is charged on the passenger.
When it comes to the maximum weight of gold, travelers can carry it up to 1 kg in any form.
The duty free import of gold bars includes rules like you need to have the manufacturers or bearers serial number engraved on it. Plus, the weight should be expressed in metric units.
Further if you are carrying more than limited amount of gold then you have to pay additional charges too.
3. Customs Duty On Gold Coins:
If you are traveling with the gold coins, then you should know that the calculation for customs duty on gold coins is the same as that for bars. It follows the same restrictions regarding the weight allowed i.e. 1 kg.
IS THERE ANY SPECIAL RULE REGARDING TAKING THE JEWELRY BACK?
If you are a person of Indian origin on a short trip to India, then there is no restriction on how much jewelry you are carrying with you. Hence you can take the jewelry back with you easily.
The things you need to know is to keep all documents related to the jewelry i.e. the original receipts of the purchase, etc. Obviously, you need to provide the proof of the jewelry bought in India.
Declare all the jewelry items that you want to take back on arrival at the Indian Airport.
Make sure that the items get endorsed on your passport so that you don’t have a problem when you return.
WHAT IS THE PROCESS OF GETTING AN APPRAISAL IN YOUR COUNTRY ITSELF?
In case, it seems difficult to get the endorsement for jewelry items in a passport due to unavailability of serial number or a model number like an electronic item, you need to get the help of an appraiser in your country.
The appraisal will take a photograph of all the jewelry items and record the information like weight, gold content etc.
You need to carry this certificate at the airport and show it to the customs authorities. After that, it will be clear that you have no intention of importing gold in India and you are going to take it back.
Gold carried by Children:
A child is also allowed to bring gold in India if they have stayed abroad more than one year.
TIPS TO AVOID PROBLEMS WHILE CARRYING GOLD IN FLIGHTS:
Following are the few tips on carrying gold through the airports:
- Do wear the minimal amount of jewelry: It is totally stupid that some people wear an abundance of jewels and ornaments through the airport. All this naturally trigger the customs officials to look at you and ask all sorts of questions.
- It is always recommended to declare all the gold items other than jewelry.
- While traveling to India, keeping a list of all the items of gold is perfect to avoid unnecessary chaos at the airport. Along with that, do keep all the receipts and other documents attached to it (if any).
- Never hide any item in fear of paying the customs duty on it. It will only lead to severe consequences.
- Do get all the details regarding the carrying of gold-related items along with the other restricted items on planes and through the airport.
1.> How much gold can I wear while traveling to India?
ANS:- 20 grams
2.> What is the custom duty on gold in India?
ANS:-India annually consumes around 800 -850 million kg of gold. At present, gold attracts an import duty of 10 per cent and GST of 3 per cent, which means the total tax incidence is 13 per cent.
3.> Can I take gold Jewellery in hand luggage?
ANS:- According to the rules, you are allowed to carry gold jewelry up to an aggregate value of Rs. 50,000 if you are a male member and it is 1,00,000 for the female travelers. There is no customs duty if the total value of jewelry carried is within the above limitations.
4.> How much gold can i carry in domestic flight in india ?
ANS:- There are no restrictions on carrying jewelry. However, if you are traveling on a domestic Indian flight, then male passengers can carry gold worth Rs. 50,000/- and female passengers can carry gold worth Rs. 1 lakhs only.
5.> Can I carry gold bar to India?
ANS:- Passengers with a valid Indian passport, who have stayed in Dubai or other foreign countries for over six months, are allowed to bring in 1 KG of gold in bars or coins from Dubai to India as a checked baggage item, however, they have to pay the custom duty fees if they exceed the gold carrying limit from Dubai to India.
6.> What is the custom duty on gold in India?
ANS:- India cut import duties on gold and silver to 7.5% from 12.5%, but imposed a 2.5% cess – a separate tax – on the imports.
7.> Is Gold allowed in flight?
ANS:- Yes, you are allowed to carry gold on an international flight. There is however no duty-free allowance for doing so. If you decide to carry gold on a flight then you will need to declare it and pay the customs duty. The maximum weight of gold allowed to carry for a traveler is up to 1 kg in any form.