The permissible limit for Non-Resident Indians (NRIs) to bring gold into India varies depending on the nature of their arrival. As of September 2021, Non-Resident Indians (NRIs) have specific limits and rules for importing gold into India.
Gold Jewelry: This gold must also be declared at the customs office upon arrival in India. Here are the limits for those without paying customs duty, which apply to both adults and children (or per passenger).
- For men: Up to 20 grams of gold with a maximum value of INR 50,000.
- For women: Up to 40 grams of gold with a maximum value of INR 1,00,000.
Gold Bars and Coins: NRIs may not have specific limits on the quantity or weight of gold bars or coins that they can bring into India. However, customs duty may be applicable on gold bars and coins that exceed the permissible limits for jewelry.
Customs Duty: If the gold brought by an NRI exceeds the permissible limits, customs duty is applicable on the excess amount. The customs duty rate can vary based on factors such as the gold’s quantity, weight, and value and the applicable customs rules at the time of import.
To calculate the gold price, weight is multiplied by the Gold rate of your travel date, based on the India Bullion and Jewelers Association rates.
What is the permissible limit –
- each passenger can carry up to 1 kg of Gold jewelry upon payment of customs duty, provided the passenger has stayed abroad for more than 6 months and will remain in India for at least 1 month after arrival.
- ensure to declare about Gold and pay import duty (recommendation: not much benefits after adding import duty, so better to buy from India for access Gold)
- Indian customs will not allow more than 1 kg of gold jewelry even if the passenger is willing to pay the customs duty.
What if it’s my Gold?- if you carry Indian Gold
- without declaration during departure, it will be counted as another country’s gold, and the limit will remain the same.
- upon departure from India, secure the export certificate at the airport customs desk. The certificate is valid for 3 years.
- it contains your name, passport number, Gold weight and description.
- officer can also ask for a purchase bill and valuation certificate issued by an authorized valuer.
How much is Import Duty
- concessional rate of duty @15% is applicable if you stay outside India for more than 6 months.
- @38.5% will be charged in case of a short stay.
- the passenger can either bring the gold himself at the time of arrival or import the same within fifteen days of his arrival in India
- limit for Silver is 10 Kg
Make use of the ATITHI app to declare in advance
It is recommended to check with the relevant authorities or a qualified professional for any changes or updates in the rules and regulations about this matter.
Before bringing gold into India, it’s essential to verify the most up-to-date information with Indian customs authorities or a reliable source.
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