Gold is one of the most valuable metals found. The substance also has a great commercial value for the economy and has been recognized as a very valuable possession for individuals and organizations alike. Due to its value as a financial asset, there are a number of restrictions on import of gold and being Dubai is a country very rich in the resource.
Due to the abundance of gold in Dubai, many people prefer buying it in huge amounts from the country and importing it to their native country. For Indians, there are a number of rules and regulations that they have to follow while bringing gold to the country from Dubai.
Bringing Gold in form of Jewelry
Males and females can bring different amounts of gold in the form of jewelry from Dubai. The primary requirement for this is that they will have to wear it while travelling. Males can bring jewelry worth Rs 50,000 if they are wearing it. For females, the maximum limit of jewelry that they can wear while traveling from Dubai to India can amount to Rs 1,00,000 maximum.
It is also important for all passengers to present the details of this jewelry to the Customs department of India. In case the amount of gold that a person is bringing is more that the set limit, they will have to pay an import duty of 36 percent to the customs department.
Bringing Gold in other forms
If a person is bringing gold which they are not wearing in the form of jewelry, there is no limit on the amount that they can bring. However, the gold that is being brought in the country should be declared with the government of Dubai.
Apart from this, all importers will have to pay a custom duty of 10 percent on the total weight that they are carrying to the customs department of India. Further, all the gold should be claimed and registered with the government of the country. If the gold is being brought as jewelry but the person carrying it is nor wearing the same, it will be included in the same category.