In today’s time, whenever we travel abroad, we bring some goods from there. The Government of India strictly controls the gold coins or ornaments coming from abroad. The Government of India has also made a rule for this.
These rules are issued by the Central Indirect Taxes and Custom Guide for Travelers under the Ministry of Finance of India. This rule states that how much gold you can bring from abroad. Along with this, at what limit you will have to pay tax i.e. duty.
What are the rules on sleeping?
Gold is a type of metal. The Reserve Bank of India (RBI) controls the reserves and imports of gold. The limit of how much gold people can bring from abroad is decided by the government. If you bring more gold than the limit fixed by the government, then you have to pay this duty in convertible currency.
If you buy gold bars, weighed bars on which the name of the manufacturer or serial number is written, they are charged at the rate of 12.5 per cent. At the same time, apart from gold, any other type of jewelery such as jewelery studded with stones or pearls, apart from 12.5 per cent duty, a surcharge of 1.25 per cent is also imposed.
can bring so much gold
You must hold an Indian passport to be eligible for gold charges. There is a belief among people that they can bring as much gold as they want from abroad. But, this notion is completely wrong. If you make a short foreign trip up to a total of 30 days in 6 months, then the government does not pay attention to your travel. You have to pay customs duty of up to 38.5 per cent.
If you stay abroad for more than 1 year, you are given allowance on customs duty. These customs duties vary. For men coming from abroad, this rate is Rs 50,000, which means you can bring gold worth Rs 50,000 only. On the other hand, any woman coming from abroad can bring gold only at the cost of Rs 1 lakh.
