Customs clearance for NRIs carrying gold to be eased

GoldclearingThe government is planning a framework to ensure trouble-free customs clearances for NRIs visiting India loaded with gold jewellery to wear at functions, as well as for citizens travelling overseas and carrying gold for similar occasions.

The strict rules that were established to curb smuggling through personal baggage has led to problems, so the Central Board of Excise & Customs is preparing new guidelines to make the procedure hassle free for law abiding passengers and it has already unveiled a series of measures to make it easier and less time-consuming.

In effect smuggling increased after the government raised customs duty to 15 percent in order to discourage imports. The challenge is now how to permit movement of jewellery while ensuring the route is not abused for smuggling. Various options are being considered. Essentially this would mean that duty could be paid on entry and refunded when the passenger returns to wherever they came from.

An official said finalization of the issue is to be completed shortly.