One of the first names that come to mind when we think of the expensive yellow metal is Dubai, popularly known as the Gold City. Gold is one of the most valuable metals in history, and its value has remained constant throughout history. The city of Dubai's distinctive gold souks is well-known among tourists and visitors. The gold rate in Dubai is based on international gold values, ensuring pricing consistency across all outlets in the city. And, because international gold prices vary in the same way that stock market prices do, gold purchasers in Dubai can take advantage of declining prices and acquire gold at the lowest possible price.
In India, the Central Board of Indirect Taxes and Customs set limits on how much gold can be imported into India from Dubai and other emirates a few years ago. Let's look at how much gold one can transport from Dubai to India.
Gold imports from the UAE to India are subject to a duty-free limit
On April 1, 2016, the Central Board of Indirect Taxes and Customs announced that any Indian traveller returning to India after a time of more than one year can bring any gold jewellery with them. The amount of gold that can be brought from Dubai to India differs depending on whether the passenger is a male or a female. As a duty-free allowance, a male traveller can take a maximum of 20 gms that costs no more than Rs. 50,000 lakh, while a female passenger can carry a maximum of 40 gms that costs no more than Rs. 1 lakh.
Children who have lived abroad for at least one year are also eligible for duty-free gold jewellery. Please keep in mind that the duty-free limit only applies to gold jewellery. The customs duty fee is applicable to other kinds of gold, such as bars, coins, and so on.
Customs duty charges
|Particulars||Customs duty charges|
|Gold bars||Rs. 300 per 10 grams + 3% of Edu cess|
|Gold in other forms i.e. coins, ornaments, etc.||Rs. 750 per 10 grams + 3% Edu cess|
What is the import duty on gold?
When coming to India, all Indian citizens who have resided overseas, or in Dubai for that matter, for more than 6 months are allowed to bring gold coins or bars weighing up to 1 kilogram in their luggage. They will, however, be obliged to pay a customs tax fee if the amount of gold they transport from Dubai to India exceeds the duty-free import limit.
If you bring gold from Dubai to India within the specified restrictions without being in Dubai for at least 6 months, you would be subject to an additional customs charge of 36.05 percent.
Carrying bars and coins weighing more than 1kg attracts a 36.05 percent customs levy. An individual travelling to India from the UAE cannot bring more than 10kg gold, including jewellery, according to the UAE Embassy. Bringing gold into India is subject to a 12.5 percent import charge.
|Aggregate weight||The maximum value (Rs)|
|Male||20 gram of gold jewelry||Rs. 50,000|
|Female||40 gram of gold jewelry||Rs. 100,000|
Things to Know for carrying excess gold
- Customs duties on gold that exceeds the limit shall be paid in a convertible foreign currency.
- To avoid problems with items at the airport, the passenger must give all evidence of purchase and other paperwork.
- Failure to follow the rules will result in persecution, seizure, or incarceration until all paperwork and documentation is completed.
- All relevant inscriptions must be present on the gold bars. Details such as the bar's weight, serial number, and maker must be included.
- Importing gold jewellery encrusted with valuable jewels and pearls is prohibited in India.
- A traveller must bring the gold as checked baggage or import it as unaccompanied baggage within fifteen days of their arrival in India.
- The traveller can receive the required amount of gold from the State Bank of India's Customs bonded storage and the Metals and Minerals Trading Corporation.
Things to Know when carry gold from Dubai
- Upon arrival in India, the traveller must file a comprehensive declaration in a designated form with the Customs officer.
- Prior to clearance, the traveller must declare their intention to receive gold from the customs bonded storage and pay the customs charge.
It's always important to be aware of the latest customs laws when it comes to the gold limit from Dubai to India. Before flying back home or coming in Dubai from another country, make sure to review the list of prohibited products at Dubai Airport. The limits are in place to reduce gold smuggling and improve the country's fiscal imbalance.