Hamdani 14 May 2021

What should be done after receiving the gifts from UsA

Dear sir. My friend is about to get goods of electronic products, watches and Gold necklace as gift from his USA friend.
My question is, does he have to pay any. government taxes.
It's worth might be some 20 lakh rupees.
Please advise with your valuable suggestions.
Thank you.
Regards
Yousuf

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3 Replies

Sankaranarayanan (Advocate) 14 May 2021

you should pay the customs duties

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 14 May 2021

1. Full Gift Tax would be applicable alongwith with Customs duty on the Gifted Articles. Maybe GST too would be payable since Gift is from a non-relative person. Coordinate with your local CA, for further details.

Keep Smiling .... Hemant Agarwal
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