Q669. Confusion on gold customs

duty taken by passenger to India

Question: Dear NRI Information I live abroad and not a indian passport holder, I hold a OCI and will be visiting to india soon. I am planning to take 4 ounces of gold to india. I am not taking this gold to gain some commercial benefit so i dont think this will come into the catogery of importing. I am taking this gold to convert them into ornaments. So in a way i am giving them business. Do i still need to pay import duty I have heard some mixed expereinces of taking gold to india and by looking at chennai customs portal it is mentioned "The duty at the rate of Rs.400/- per 10 gms. is paid by the passenger in convertible foreign currency". Is this true? please assist me Sai Answer: Taking gold to India from abroad is very much in the news these days! so is the confusion on the amount of gold that can be taken and the applicable customs duties and taxes to be paid on arrival at the Indian airport. Regarding your questions: • NRIs who have stayed abroad continuously for over a year can bring duty free jewelery worth Rs 100,000 in the case of women and Rs 50,000 in the case of men. They can also bring up to one kilogram of gold or jewelery by paying the applicable duty. However, gold customs duty exemption applies only to gold in the form of ornaments and does not apply to gold and silver in any other form. o Regardless of the reason as to why you are taking the gold to India. If you take gold to India even to get jewelery made from this gold and then take it back, you would have to pay the applicable customs duty on arrival at the Indian airport. • In your email, you mention a quote from Chennai customs website: "The duty at the rate of Rs.400/- per 10 gms. is paid by the passenger in convertible foreign currency" and ask if this is true? I did find the quote on the website of Chennai customs at this url: http://www.chennaicustoms.gov.in/passen/gold .htm. I think that this page has not been updated and the information may be outdated. This page also seems to suggest that 10 Kg of gold can be imported instead of the permissible 1 Kg! I would suggest that readers of this page email them to confirm before acting on the posted information. • More information on taking gold to India and how customs duties on gold are calculated is provided on this website. Kindly check the links provided at the end of this page.