Vishakapatnam airport increases vigilance following gold import duty hike
Security controls have been tightened on 17 international flights originating from Vishakapatnam airport
The increase in gold import customs have given rise to smuggling and increase of illegal sale of the yellow metal. The customs officials at Vishakapatnam airport have increased vigilance following the 2.5% announcement of the hike on 6th July. Security controls have been tightened on 17 international flights originating from Vishakapatnam airport. There have been 33 cases of gold seizure at the airport in the last three years where 11,743.38 grams of gold worth Rs 373.9 lakh have been recovered. Principal customs commissioner DK Srinivas says, “Smuggling is not a habit, it’s a business. The hike in customs duty would increase the total expenditure on gold import. We are apprehensive about a steep rise in gold smuggling cases and have adopted a few precautionary measures.” As per customs norms, one can carry up to US$50,000 gold out of the country. Smugglers usually pick up gold from Dubai or Sharjah airport which are duty free zones. Vigilance at gold souks have also been enhanced.