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News India Live, Digital Desk: If you are going on a foreign trip or are planning to bring gold with you while returning from there, then this news is very important for you. The Government of India and the Customs Department have issued important changes and clarifications in the rules for import of gold. If you are not aware of the rules, you may not only have to pay heavy fine but may also have to go to jail. According to the report of Times Bull, the government has given strict instructions regarding ‘duty free’ limit and tax slab to stop gold smuggling and balance the domestic market. 1. How much is the ‘free limit’? (Duty-Free Allowance) According to Indian law, any Indian citizen who is staying abroad for more than a year can bring with him gold up to a certain limit without paying tax: For male travelers: Gold jewelery up to the value of ₹ 50,000 (up to approximately 20 grams). For female travelers: Gold jewelery up to the value of ₹ 1,00,000 (up to approximately 40 grams). Condition: This exemption is only Available on ‘Jewellery’, not on gold coins or biscuits.2. What are the rules on coins and biscuits? If you bring gold coins or biscuits, no matter how low their value is, you are required to pay customs duty on them. According to the rules, bringing these without declaration can be considered as smuggling.3. Tax rates under the new rules: After the recent budget amendments, if you bring gold more than the prescribed limit, you will have to pay effective custom duty on it. Currently, the import duty on gold was reduced to promote the legal channel, but still this rate could be between 6% to 15% (depending on the conditions).4. What will be the action if you break the rules? Non-declaration: If you have gold in excess of the prescribed limit and you do not declare it on the ‘Red Channel’, the customs officials can confiscate it. Fine and jail: If illegal gold worth more than ₹ 20 lakh is found, there is a provision of arrest and lengthy legal process. Important tips for travelers: Carry the receipt: Always keep the confirmed receipt of gold purchased from abroad with you. Use of Red Channel: If you If you are bringing gold more than the limit, then go to the ‘Red Channel’ at the airport and inform the authorities and pay the necessary tax. Old jewellery: If you had gone abroad wearing gold from India and are bringing it back, then get an ‘Export Certificate’ made at the airport while leaving so that you do not have to pay duty while returning.