Can an NRI import gold or silver?
NRIs can bring gold up to 10 kg. And silver upto 100 kg into India once in 6 months, as part of their personal baggage, provided they have stayed abroad for a continuous period of 6 months. The gold may be brought in any form, (except as ornaments studded with stones and pearls). The NRIs will have to pay customs duty in foreign exchange at the rate of Rs.40 per gm of gold and Rs.500 per kg of silver. The gold and silver can be sold to residents, but the sale proceeds will have to be routed through the NRO Account of the seller.
