Is it good to buy gold in Dubai? How much gold can be brought..!?

 Recently, kannada actress Ranya Rao was arrested for gold smuggling. gold smuggling, which first became popular in hindi films in the 1970s, has become a topic of conversation again after Ranya's arrest. Reports suggest that gold smuggling to india has increased since the price of gold in various countries like dubai and london is slightly lower than in India. What are the rules for bringing gold to india from abroad? How much gold can be brought tax-free? How much gold can be brought after paying tax? Is buying gold in dubai profitable for Indians? Or is it better to buy it in India? We will find answers to all these questions in this article. Some people from places like dubai and london have been arrested in gold smuggling cases before. The reason for this is that the price of gold in dubai is 8 to 9 percent lower than in India. Due to reasons like low production costs and no VAT on exports, the price of gold is cheaper there than in India.
For this reason, people are bringing gold from there to India. Bringing gold from dubai and london is not illegal. But there are some rules for it. You should be aware of those rules. How much gold can you bring depends on your gender and how long you have been abroad. There is no tax up to a certain limit. Above that, you have to pay customs duty. That is, you can bring gold with or without paying tax, or you can bring gold from dubai to India. The maximum amount of gold allowed through a check is 1 kg. That is, 1000 grams. Under customs rules, to bring 1 kg of gold, you need to have stayed abroad for at least 6 months. In addition, you need to prove that you are eligible to bring gold by air from abroad. To be eligible to bring gold, you need to have a valid indian passport. A traveler who has stayed abroad for 6 months and returned to india is defined as an eligible traveler to bring gold. The current price of 1 kg of gold in india is around Rs. 84 lakh. Therefore, indian passport holders can bring a maximum of Rs. 50,000 worth of gold duty-free, and women can bring a maximum of Rs. 1 lakh worth of gold duty-free. In india, the price of 24-carat gold today is Rs. 90,000 per 10 grams. Men can bring a maximum of Rs. 50,000 worth of gold. Considering the current price, about 5 grams of gold can be brought to india from abroad. In addition, if you have bought gold from abroad, you must prove its legality.

 Customs duty rates: 3% customs duty if men bring gold between 20 grams and 50 grams, and women and children between 40 grams and 100 grams. 10% customs duty if men bring more than 100 grams, and women and children bring more than 200 grams of gold. Let's see what the total cost of buying 10 grams of gold in india and buying 10 grams of gold in dubai is. Buying 10 grams of gold in india costs Rs. 90,000. Buying 10 grams of gold in dubai and bringing it to india is a tax-free limit. The price of gold in dubai is 82,000 for 10 grams. The tax-free limit for women is Rs. 1 lakh. Since 10 grams is within the tax-free limit, no tax will be levied. So, it will cost you Rs. 82,000 when you land in india tax-free.
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

Sowmiya Sriram

05/04/2025 04:12 PM