HomeBytesWhy is Dubai land of duty free gold?

Why is Dubai land of duty free gold?

Have you ever heard of duty-free gold in Dubai? When it comes to purchasing gold, Dubai is often known as the City of Gold. Since Dubai is a tax-free location, you won’t have to pay sales tax or VAT while buying gold there. However, the CBIT and customs placed limits on the amount of gold which you can import into India from Dubai. The CBIT means Central Board of Indirect Taxes. The question that everyone has is how much gold is permitted from Dubai to India.

Duty free gold in Dubai

Indian travellers may bring gold jewellery into India in their luggage if they have been away from home for more than a year:

  1. Gold jewellery with a total weight of 20 gms and a maximum monetary value of INR 50,000 is free from customs charge for male passengers.
  2. Gold jewellery with a total weight of 40 gms and a maximum monetary value of INR 1,00,000 is exempt from customs charge for female travellers.

All Indian nationals who resided outside India or in Dubai for a period of time greater than six months can carry gold coins or bars weighing up to one kg in their luggage to India. If they transport more gold from Dubai to India than the prescribed limit on duty-free imports, they will be subject to a customs tax levy. If you carry gold from Dubai to India without staying in Dubai for up to 6 months, then, you would be subject to an additional customs charge of 36.05%.

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