A formal request to the Indian government to elucidate the country’s gold carrying regulations for foreigners has been made by an organisation based in the UAE. Nirmala Sitharaman, the nation’s finance minister, received a memo from the Indian Association of Sharjah on Wednesday requesting that the customs baggage declaration rules be clarified to reflect the current gold values.
During his last trip to India, Pratheep Nemmara, the vice president of the organization, described how he was “harassed” for over an hour at an airport for carrying two 30-gram gold bangles.
When asked if I had any gold on me, I said that I did,” he stated. “I was asked to pay the officers ‘ something’ or pay a 35 per cent tax on the gold.” I argued that I merely wanted to follow the law and that I would have to pay Rs107,000 (about Dh4,400) in taxes on the gold I was travelling with.
Since it was drafted over ten years ago, the rule governing the amount of gold that foreigners are permitted to bring home does not take into account the current situation. Many foreign tourists are being forced to pay exorbitant duty on modest amounts of gold due to this outdated assessment at a time when gold prices have reached all-time highs.
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