Gold has been a precious metal in India and all around the world. It is also known a yellow metal. It has been considered as a symbol of prestige and royalty since ages. Besides, that people find it the best method of investment as well. Gold is trending not only in India but abroad also. The trend of gold is emerging very fast.
You might have heard a lot about gold being seized on the airports. The reason behind this is there are certain requirements to import the gold that needs to be fulfilled. So let us check the requirements that need to be fulfilled if you are carrying gold in flights to India . This gold can be in the form of ornaments, coins or biscuits. Now the next question in your mind will be how much gold can be carried custom free and on how much gold custom duty is to be paid. You will be surprised to know that customs also favor women than men in terms of carrying gold.
Gold Jewelry Carrying Limits According to the Valuation (Without any Custom Duty)
Woman passenger can bring duty-free gold jewelry of worth Rs. 100000 to India. On the other hand for a man this limit is worth the gold jewelry can be Rs. 50000. But there is a condition attached to this clause that you should be residing abroad for more than one year.
If you carry gold jewelry over this limit you have to pay customs duty.
You can carry only gold jewelry under the allowance limit. Gold coins and bars aren’t allowed free of customs duty.
Furthermore, the price of gold will be calculated based on the value notified by the government of India.
What is the Limit of Carrying Gold Bars and Coins?
You can carry 1Kg gold per person after paying the custom duty. It can be gold coins or gold bars. But the important thing is that if you are of Indian origin and have a valid passport only then you are allowed to carry the gold. The gold can be carried in the form of baggage.
Can You Carry Gold Coins And Bars More Than 1 Kg?
Yes, you can carry gold coins and bars more than Kg but you need to have all the correct and detailed declaration documents along with you. You will not be seized without any reason.
Custom duty on coins and bars more than 1 Kg = 36.05%
Other Conditions Associated With Gold Bars
In case you are bringing gold bars to India serial number, weight and the name of the manufacturer should be inscribed over the gold bars. Besides that, you will have to pay duty tax on these gold bars depending on the gold bars that you are carrying. It is not over here, you will have to pay duty tax again in India after the declaration of your gold. In case if you carry gold over a certain limit you have to face certain legal charges. It can make you in trouble.
First of all custom duty is the amount of tax charged on the import and exports of goods.
- Custom Duty if you have stayed in abroad for one year
Custom duty on gold coins and bars – 6% ad valorem tax + 3% cess
In case of Tola Bars and ornaments, it is 10% ad valorem tax + 3% cess
One Tola = 11.663 Grams
- Custom Duty if you have stayed in abroad for less than one year = 10.3%
- Custom Duty if you have stayed in abroad for 6 months or less than 6 months = 36.05%
What is ad valorem tax?
Ad valorem tax is the tax imposed on the value of the good, not on the weight quantity or size of the good.
Walkthrough Right Channel on Airport
It is also important to walk through the right channel. If you are carrying gold which is free of custom duty only then you should walk through the green channel. The green channel represents the passengers who are not having any dutiable goods.
On the other hand, if you are carrying dutiable gold then you must go for the red channel. If you exceed the quantity of the gold then you will be prosecuted under custom act 1962.
Is it important to declare the gold?
Yes, it is important to declare the gold while carrying in-flight to India. Besides that, you should also be updated with the latest norms and conditions of import of gold.
Can children carry gold jewelry in flight?
Yes, children can carry gold jewelry but the children should have been living abroad for more than one year. And the gold jewelry should be under the allowance limit.
Who is eligible to bring gold to India in Flight?
Any passenger of Indian origin is allowed to bring gold to India. But he/she should be returning to India at least after 6 months.
Any passenger holding a passport under the passport act 1967.
Tips to carry gold in flight to India
- First of all, try to wear a minimal amount of gold jewelry. It seems stupid to wear a lot of amount of gold ornaments. It attracts the attention of the airport officers and makes them ask some questions from you.
- Don’t even think to hide any gold jewelry to get an escape from the custom duty. It will have consequences that will lead you in trouble.
- You should also declare the gold items you are carrying. Try to keep related documents with you. (If any)
If you are carrying gold beyond the permissible limit then keep all the required paperwork along with you. This includes invoices and receipts. Besides that, you also need to fill the formal declaration form. In this form, you have to list the name of gold valuable you are carrying and it should further match with the gold valuables that you are carrying.
These are some things that you need to take care while carrying gold in flights to India.
1.> How much gold can I wear while traveling to India?
2.> What is the custom duty on gold in India?
ANS:- India annually consumes around 800 -850 million kg of gold. At present, gold attracts an import duty of 10 per cent and GST of 3 per cent, which means the total tax incidence is 13 per cent.
3.> Can I take gold Jewellery in hand luggage?
ANS:-According to the rules, you are allowed to carry gold jewelry up to an aggregate value of Rs. 50,000 if you are a male member and it is 1,00,000 for the female travelers. There is no customs duty if the total value of jewelry carried is within the above limitations.