Government proposes to ease norms for NRIs carrying gold hassle-freeNRI Top Stories

May 26, 2016 06:18
Government proposes to ease norms for NRIs carrying gold hassle-free

The government of India is planning to soften norms for Non-resident Indians travelling into and out of India loaded with jewellery to attend personal functions such as weddings or similar occasions. Such NRIs would need to pay duty on entry and will get it refunded while returning.

A framework to ensure hassle-free customs clearances for such travel into and out of India is being prepared by the government. At present, NRI's are facing problems while bringing in jewellery for personal use due to stringent norms that were put in place to curb gold smuggling through personal baggage.

The Central Board of Excise & Customs is gearing up to set new norms that will make easier to bring jewellery for personal use under the baggage rules.

The Economic Times reported that, "We are examining the norms. We understand that some people get jewellery for weddings and take it back as well," a senior finance ministry official said.

The smuggling of gold is on the rise in India. The Indian government seized gold worth Rs. 832.08 crore in 2014-15, while it seized worth Rs. 557.83 crore in 2013-14.

Also read: UN honors four Indian peacekeepers posthumously

Nandini

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