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Advice on Carrying Gold Coins/Bars from Singapore to India

Advice on Carrying Gold Coins/Bars from Singapore to India

Old Jul 8, 15, 10:56 pm
  #1  
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Advice on Carrying Gold Coins/Bars from Singapore to India

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Last edited by Senthil Murugan; Jul 21, 15 at 1:17 am
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Old Jul 9, 15, 9:41 am
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Originally Posted by Senthil Murugan View Post
Hi,

I am currently working in singapore for more than 6 months.
Can any one advice me on how much grams of Gold coins/bars are allowed to carry from Singapore to India without paying duty charges.


Appreciate your quick response.

Thanks,
SM
If you are carrying them from Singapore into India, should not you ask the question to Indian border/customs control?
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Old Jul 10, 15, 12:54 am
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Since the answer to this issue is primarily determined by the authorities/laws of India, let's try it here in the dedicated India forum.
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Old Jul 10, 15, 12:59 am
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Wasn't there a Locked Up Abroad episode about someone caught smuggling gold into India? A long jail term was involved.
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Old Jul 10, 15, 2:06 am
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The CBEC has some pretty clear guidelines on the topic:

www.cbec.gov.in/trvler-guide_ason05feb2015.pdf

4. Who can import gold as baggage?
Any passenger of Indian Origin or a passenger holding a valid passport, issued under the Passport Act, 1967, who is coming to India after a period of not less than six months of stay abroad; and short visits, if any, made by the passenger during the aforesaid period of six months shall be ignored if the total duration of stay on such visits does not exceed thirty days.
Other Conditions
(i) The duty shall be paid in convertible foreign currency. The current rate of duty for the Gold in any form as per Notification No. 12/2012- Cus dated 17.03.2012 is 10%.
(ii) The weight of gold (including ornaments) should not exceed 1 kg. per passenger.
(iii) The passenger can either bring the gold himself at the time of arrival or import the same within fifteen days of his arrival in India as unaccompanied baggage.
(iv) The passenger can also obtain the permitted quantity of gold from Customs bonded warehouse of State Bank of India and Metals and Minerals Trading Corporation subject to conditions (i) and (ii) above. He is required to file a declaration in the prescribed Form before the Customs Officer at the time of arrival in India stating his intention to obtain the gold from the Customs bonded warehouse and pay the duty before clearance.
Value of gold and silver is to be taken as per the Tariff value fixed for the item through notification from time to time.

Note that travellers are allowed to import goods upto 45000INR duty free, but:

The free allowance is not applicable to the following goods
1. Fire arms.
2. Cartridges of fire arms exceeding 50.
3. Cigarettes exceeding 100 or cigars exceeding 25 or tobacco exceeding 125 gms.
4. Alcoholic liquor or wines in excess of 2 litres.
5. Gold or silver any form, other than ornaments.
6. Flat Panel (LCD/LED/Plasma) Television.
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Old Jul 10, 15, 6:17 am
  #6  
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Originally Posted by Senthil Murugan View Post
Hi,

I am currently working in singapore for more than 6 months.
Can any one advice me on how much grams of Gold coins/bars are allowed to carry from Singapore to India without paying duty charges.


Appreciate your quick response.

Thanks,
SM
oliver2002's post above has all the relevant information you need....just keep in mind that if you are exceeding the allowance then its not a good idea to try & pass through the green channel at customs....if you are caught then its a criminal offense that comes with jail time & a hefty fine....
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Old Jul 15, 15, 3:55 pm
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I had quite an extensive inspection arriving in BOM from SIN some years ago after a short visit with minimal baggage, which I assumed at the time was looking for gold.
(I didn't have any)
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