Can a NRI import gold or silver?
Yes, a NRI can bring upto 10 kg of gold and 100 kg of silver once in 6 months into India 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. He will have to pay customs duty in foreign exchange at the rate of Rs 22 per gram of gold and Rs 500 per kg of silver. Both the payment in rupees and the sale amount will have to be routed through his NRI account.
