Credit portal




How much silver in canadian coins

Import of Gold & Silver

Import of Gold as baggage on payment of duty

How much jewellery can be imported by a passenger?

Any Passenger can take gold to India provided they declare and pay the applicable customs duty in India. Up to 10 Kilograms of gold per passenger can be imported to India provided the period of stay overseas has been more than six months.

An Indian passenger who has been residing abroad for over one year is allowed to bring jewellery, free of duty in his bonafide baggage upto an aggregate value of Rs. 10,000/- (in the case of a male passenger) or Rs.20,000/- (in the case of a lady passenger). This is in addition to his/her usual free allowances. If a passenger who is a Indian passport holder has been working abroad and returning after termination of work following a stay of 365 days abroad during the two previous years, he/she can also bring

Gold & Silver in any form other than ornaments (Sl. 17 of Annexure-II) as part of the baggage on paying 15% duty, subject to the upper total value limit of Rs.75,000/- for all listed items.

Passengers of Indian Origin who have stayed abroad for at least 6 months can import raw gold and silver / jewellery in excess of the above mentioned amount on payment of duty at the prescribed rate. However, stone or pearl studded jewellery are not allowed under this scheme.

Import of Silver as baggage on payment of duty

The weight of silver (including ornaments) should not exceed the quantity of 100 kgs. per passenger.

The duty at the rate of Rs.510 per kg. is payable by the passenger in convertible foreign currency.

Import of silver by concealment in baggage coupled with no declaration will lead to confiscation along with imposition of fine/penalty and the offender may also be arrested.

Category: Bank

Similar articles: