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of <h1>New Rules for Gold Imports by Eligible Passengers: Record Serial Numbers, Verify Backgrounds, and Ensure Compliance per Notification No. 12/2012-Cus. /2012.</h1> The circular addresses the import of gold by 'eligible passengers' under Notification No. 12/2012-Cus, which allows passengers of Indian origin or those with valid passports to import up to 1 kg of gold upon paying a 10% customs duty in foreign currency, provided they have stayed abroad for at least six months. The circular notes a rise in gold imports and inconsistencies in airport clearances. To prevent misuse, it mandates recording serial numbers of gold bars, inventory declarations for ornaments, and verification of passengers' backgrounds and funding sources. Compliance with these instructions is required, and any difficulties should be reported to the Board.
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