Do you know the Gold carry limit in Flight and also cash. Find the circumstances occur in carrying of excess Gold and cash in Flight other than limit…
Gold considered as the most precious metal & is everyone’s favorite. Everybody in India wants to invest in Gold. Not only in India but people throughout the world are crazy for this precious yellow metal since ages.
Dubai is considered as the house of Gold, hence it is also named as “Gold City”. People who visit this gold city cannot resist themselves from buying gold. But these people have certain restrictions while importing gold to their native land.
They have to follow certain rules by the Government of India on gold imports which refrain them from bringing their desired amount of gold with them. As we are aware that females are more crazy for gold than males, so in this respect the Indian Government also favours females.
The females allowed to bring gold jewelry worth Rs 1 lakh whereas males coming from other countries to their native land can bring gold jewellery worth Rs 50,000 as Gold carry limit in Flight. The tourists have to reside in that country for a period of more than a year or so. The passengers need to pay the custom duty over this limit of carrying gold jewellery.
The tourists can also carry gold 1 kg but you need to pay custom duty. After paying the custom duty the good gold may imported in the form of gold bars or gold coins. Anyone having valid passport and VISA can import gold in his luggage.
It is to note that whenever passengers bring gold to India, the value of the gold may calculate based on the present day rate of gold notified by the Government of India. The value of gold changes from time to time hence the amount of gold carried by the passengers also changes.
The passengers need to produce the purchase receipt at the time of paying customs duty.
In case the tourists bring the gold in the form of bars, it is mandatory to have inscribed the serial number, weight & most importantly manufacturer of the bar. If it is not there, then be ready to pay a percentage of duty tax. It is depending on the amount of gold bars you have bought.
Apart from the charges mentioned above, the passengers when returning to India have to declare the amount of gold they have purchased & pay the duty tax again.
If you have bought an extra amount of gold according to Indian norms, you have to pay the certain charges as well. In case the tourist does not show his 6 months stay in the other country then a duty of 36.05% may charged on all the gold the tourist has bought.
The passengers advised to pay the custom duty on the amount of gold they bought. In case they choose to escape from this channel, they may prosecuted under customs Act 1962.
There are also norms to carry cash in the flights. The passengers who are visiting abroad can carry Rs 25,000/ per person. Any tourist who resides outside of India can carry the un-spent money bought by him. Anyone who is residing outside India can alsocarry the cash of Rs 25,000/.
The travellers going abroad can carry international Credit Cards (ICC) andInternational Debit Cards (IDC). However, the permissible transactions amount through such cards is USD 25,000.
Again the Indians who have gone somewhere for a trip can carry only Rs 25,000/ while coming back to India. The passengers who reside in India but have gone to visit Pakistan or Bangladesh can bring Rs 10,000 per person. In case someone wants to visit India, there is not upper limit of foreign currency which may brought in India.