Are you thinking of bringing gold back from your travels in Dubai to India? You might be wondering how much gold is allowed and what the restrictions are. Read on to find out all you need to know about how much gold is allowed in shipments from Dubai to India!
How much gold allowed from dubai to india?
As per the Indian Customs regulations, a passenger can bring gold jewelry to India from Dubai as long as it is within the permissible limit of 20 grams for a male passenger and 40 grams for a female passenger. It is also important to note that the value of the gold should not exceed Rs. 50,000. If the value exceeds this limit, the passenger will have to pay customs duty on the excess amount. It is also important to declare the gold at the time of arrival in India and keep all necessary documents such as purchase invoices and bills.
What are Custom Duty Charges on Gold?
Custom Duty Charges for Gold which brings from Dubai to India are subject to the Indian Customs regulations. As per the Indian Customs regulations, a duty of 10.3% is applicable on gold jewellery, while gold coins and bars are subject to a duty of 8%. The duty is calculated on the value of the gold, which is determined based on the international price of gold at the time of import. In addition to the duty, other taxes and fees may also be applicable, such as the Goods and Services Tax (GST) and the Integrated Goods and Services Tax (IGST). The applicable fees and taxes can vary depending on the state in which the gold is being imported. It is therefore important to check with the customs authorities in India before bringing gold from Dubai to India.
How to Avoid Customs Duties for Gold Purchased from Dubai?
It’s illegal to evade customs duties and can result in penalties and fines. Declaring the gold and paying the applicable customs duty is the only legitimate way to bring gold into India from Dubai. There is no way you can bring gold from Dubai to India without custom duty.
Where and How to Purchase Gold from Dubai?
Gold can be purchased from Dubai in several ways:
Gold Souk: Dubai’s famous Gold Souk is a traditional market located in the Deira area of Dubai, where you can find a wide range of gold jewelry shops selling various types of gold including gold bars, coins and jewelry.
Gold and Diamond Park: This is a modern shopping center that specializes in gold and diamond jewelry. You can find a wide range of gold jewelry, gold coins and gold bullion bars.
Online shopping: You can also purchase gold from Dubai online from reputable retailers and e-commerce platforms. Be sure to check the authenticity and reputation of the seller before making a purchase
Gold ATMs: There are gold ATMs in dubai that dispense gold in various weights and designs, and accept various forms of payment.
When purchasing gold from Dubai, make sure to check the purity of the gold, and always ask for a certificate of authenticity. It is also a good idea to shop around for the best prices and to compare different sellers before making a purchase.
Alternatives to Buying Gold from Dubai
If you’re looking for alternatives to buying gold from Dubai, there are a few options available to you. You can purchase gold from other countries in the Middle East, such as Qatar or Kuwait. You can also buy gold from online retailers or through private dealers.
Another option is to invest in gold ETFs or mutual funds. These options offer exposure to gold without having to take physical possession of the metal.
Finally, you can also consider investing in companies that mine and produce gold. This offers indirect exposure to the precious metal and can be a more volatile option.
Can children carry gold with them?
According to Indian Customs regulations, children are also allowed to carry gold with them when coming from Dubai to India, as long as the total weight of gold is within the permissible limit and the value does not exceed Rs. 50,000. However, it is important to note that the limit for children is the same as for adults, which is 20 grams for a male passenger and 40 grams for a female passenger. It is also important to declare the gold at the time of arrival in India and to keep all necessary documents such as purchase invoices and bills.
Does studded gold qualify for the duty-free allowance?
No, studded gold jewelry does not qualify for the duty-free allowance in India. Customs duty must be paid on studded gold jewelry brought into India, regardless of the value or quantity. The current rate of customs duty on gold in India is 12.5%.
Conclusion
In conclusion, the amount of gold allowed to be imported from Dubai to India is restricted by the Indian government. The limit on gold importation depends on the type of traveler and their purpose for travel. However, there are certain factors that could influence how much gold a person can bring into India such as customs duty rate and other restrictions imposed by the Indian government. Before embarking on a journey to Dubai, it is important to check with your local customs office in order to determine what limits apply when importing gold from Dubai into India.
