A huge Indian population of over 3,420,000 lives in the United Arab Emirates, contributing to more than 38% of the total population in the UAE. Many Indians prefer to live in the Emirates for employment or business-related opportunities, and lesser tax obligations.
Moreover, its iconic buildings and exciting events, the quality of luxury and gold products attract people across the globe, especially the Indians. If you are an Indian residing in Dubai, then you may have purchased gold as the ‘City of Gold’ offers pure and premium quality of authentic gold, regulated by the government at a reasonable price.
If you are planning to buy gold from Dubai for a joyous Indian occasion or for festivities and carry them to your domestic country, but you are not sure about the procedure, here’s a guide for you.
As per the information available on the Central Board of Indirect Taxes and Customs (CBIC) website, under the Passport Act of 1967, any Indian passenger who has been living overseas for over a year is allowed to carry gold jewellery to India, but you can bring only a certain amount.
Limit on carrying Gold
On April 1, 2016, the Indian government clarified that male passengers can enter the country with up to 20 grams of gold jewellery, however, it must not exceed the value of Rs 50,000 for it to remain a duty-free allowance. Female passengers, on the other hand, are allowed to bring up to 40 grams of gold jewellery, but the cost should not be over Rs 1,00,000.
However, no such restrictions would be imposed on passengers with a valid Indian passport, who have been residing in Dubai or any of the other emirates for over six months. They can bring 1 kg of gold jewellery, bars or coins to India in check-in baggage however, they are liable to pay the customs duty if the limit of carrying gold exceeds. In 2019, the customs duty on gold from UAE to India had been increased from 10% to 12.5% that has been revised and reduced to 7.5% in this year’s budget session.