Duty Payment on Gold
CLEARANCE OF GOLD ON PAYMENT OF DUTY
|(A) Who can import gold as baggage?
- Any passenger of Indian origin.
- Any passenger holding a valid passport issued under the Passport
- The weight of gold (including ornaments) should not exceed 10
Kgs. per passenger
- Such passenger is coming to India after a period of not less
than six months of stay abroad. However, short visit during these
six months shall be ignored if the duration on such short visits
does not exceed 30 days and the passenger has not availed of the
exemption under this scheme, at the time of such short visit.
- The duty at the rate of Rs.250/- per 10 gms. is paid by the
passenger in convertible foreign currency.
- Ornaments studded with stones and pearls will not be allowed to
be imported under the scheme mentioned above.
- The passenger can either bring the gold himself at the time of
arrival or import the same within fifteen days of his arrival in
- The passenger can also obtain the permitted quantity of gold
from Customs bonded warehouse of State Bank of India and Minerals
and Metals Trading Corporation Ltd. subject to conditions (i) and
(iii). He is required to file a declaration on theprescribed Form
before the Customs Officer at the time of arrival in India stating
his intention to obtain the gold from the Customs bonded warehouse
and pay the duty before clearance.