We know the basic information on how you can carry gold to and from India in the previous article https://goo.gl/f9RtaY
But now we must know the different rules that are applicable when carrying gold out of India. We know that it completely depends on the country you’re travelling to. So to avoid troublesome circumstances, you must always check the rules applicable in that country before travelling. Most airline websites or a country’s website will have all the information required on how much gold can be carried into that country, the legal documents, the customs duty, if applicable and the procedure to declare your valuables.
For example:
- If you are travelling to the United States of America, there will be no duty charged on gold bars, coins, medals or bullions, but it must be declared to the Customs and Border Protection officer.
- The gold coins must not be counterfeit and must be marked by the country of issuance. If the coins are monetary instruments and are valued above USD 10,000, then the FinCEN 105 form must be filled and handed to a customs officer at the time of entry.
- If you are travelling to Australia and the gold jewellery, coins or bullions are carried for personal purposes, then an import declaration will not be necessary. If the value of the gold or gold jewellery is below AUD 1,000, then you will require a self-assessed clearance declaration. If it’s valued above AUD 1,000 then you will require an import declaration.
Customs and procedures
Remember to always carry your jewellery in your carry-on baggage and not place your gold jewellery in a bag that you plan to check in. Often, the customs officer might want to check your bags as they are required to do so to prevent illegal activities or misuse. It is done to check if you are carrying gold beyond the declared amount. In this case, you can ask for a private room, so that other passengers are not alerted to the fact that your bags contain gold or gold jewellery.
But if you are carrying gold beyond the permissible limit, make sure that you have the necessary paperwork in place. It is also important to fill a formal declaration form where you need to list every gold item and other valuables that you are carrying. The valuables you are carrying, and the amount declared, must match. Otherwise, the customs officers might question you or doubt your intentions.
