Tourists and Indian residents of the UAE can bring in gold coins and bars but they would have to declare it and pay customs duty as per Indian rules, gold jewellers in Dubai said. The explanation came after India raised gold import tariff from six per cent to 15 per cent, which led to a jump in demand for gold jewellery in Dubai due to a wider pricing differential between the UAE and India.
Yes, non-resident Indians (NRIs) and Indian travelers can bring gold from the UAE to India, subject to applicable Indian customs rules and taxes. “Gold coins and bars can also be taken into India, provided it is declared and the applicable customs duty is paid as per Indian regulations,” said Ramesh Kalyanaraman, executive director, Kalyan Jewellers.
Managing director of Kanz Jewels, Anil Dhanak also verified that NRIs and Indian nationals are allowed to carry gold coins and bars but they are not part of duty-free jewelry quota and have to be disclosed at Indian Customs.
Also Read:
Alyona Zakharova: Behind the Scenes of a Fast-Moving Airline
Valeria Petza: Dubai’s Resilience and Growth from the Eyes of a Leader
About Author
