New Delhi: Gold prices in Dubai are often lower than prices in India due to differences in import duty and tax policies. For example, Dubai has zero GST on bullion and gold jewellery, while India levies 3% GST on gold. Apart from this, the manufacturing cost in Dubai jewellery stores is quite reasonable, making 24 carat gold in Dubai around 5% to 7% cheaper than in India. Consumers save more money when buying gold in large quantities from Dubai. But one should not forget the rules of custom duty when bringing gold from Dubai to India.
How much gold can be brought in
As per the rules, if an Indian traveller returns to India after staying in Dubai for more than six months, he can bring up to 1 kg of gold in his baggage after paying custom duty. Talking about the limit of bringing duty free gold, male passengers can bring up to 20 grams of gold (worth Rs 50,000) from Dubai into the country without custom duty. Male passengers can bring gold coins or bars into the country.
At the same time, the limit for women passengers to bring gold from Dubai into the country without custom duty is up to 40 grams (worth Rs 1,00,000). Women passengers can bring gold in the form of jewellery, bars or coins. If the gold brought from Dubai crosses these limits, then the passenger carrying the gold will have to pay custom duty, which can be 3 to 10% of the value of the gold. For verification, the passenger will have to show the bill of the gold purchased to the customs officials.
How much duty-free gold can children bring in
Children under the age of 15 can bring up to 40 grams of gold ornaments from Dubai into the country without customs duty. This includes gold gifts given to children. But the child bringing gold from Dubai must have an ID proof showing his relationship with the adults accompanying him. This is so that the guardian can do the paperwork.
Ranya Rao sent to 14-day judicial custody
The DRI says that after the gold was seized from Ranya Rao at the airport, her house was searched and gold jewellery worth Rs 2.06 crore and Indian currency worth Rs 2.67 crore was also recovered. Rao is the stepdaughter of senior IPS officer Ramachandra Rao. DGP rank officer Ramachandra Rao is currently serving as the Chairman and Managing Director of Karnataka State Police Housing and Infrastructure Development Corporation. The total seizure in this case is worth Rs 17.29 crore. After his arrest on Monday night, Ranya Rao was produced before the Economic Offences Court, which sent him to 14-day judicial custody.