424. Import gold from Muscat

to India - customs duty in India

on gold

Questions: sir, i PATEL ARVIND from india want to know what is the procedure for import of gold in india, Rate of custom duty levy on gold, and any other restriction and nomes under FEMA- 1999. for your information i tell you that i want to import gold from muscutt and weight 500/- gm gold please provide me information as early as ARVIND H. PATEL Answer: I am not sure whether you are residing in India now and want to import gold. On a commercial level, at present, only authorized agencies and public sector units are allowed to import gold into India. Since you mention 500 grams of gold, I get the feeling your question refers to taking gold to India by a passenger as part of their baggage. Up to 1 kilogram (1000 grams) of gold is allowed to be imported by persons of Indian origin who have been out of India for a period of at least six months. They can bring the gold themselves or have it arrive in India within fifteen days of their arrival in India as unaccompanied baggage. Customs duty payment when importing gold into India must be paid in convertible foreign currency. Regards to the rate of customs duty charged when importing gold to India, see question number 8 that has the latest information on importing gold to India. You can visit the page by clicking the link provided here; http://nriinformation.com/faq/questions_2.htm Please note: Some websites are still showing a customs duty rate for gold imports to India as being Rs 220 per 10 gm. While this was the rate some time back, it has been changed. The information provided under question number 8 of this website, is the current information that applies to 2012. Problems at Hyderabad airport when taking gold to India - See Next Page >