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‘Increasing gold prices a bane for NRKs’

THIRUVANANTHAPURAM: The ever-increasing in the gold prices have come as a bane for the Non-Resident Keralites, said Reji Thazhamon, former vice-president of Overseas Indian Cultural Congress.

Published: 30th April 2012 06:53 AM  |   Last Updated: 16th May 2012 07:50 PM   |  A+A-

THIRUVANANTHAPURAM: The ever-increasing in the gold prices have come as a bane for the Non-Resident Keralites, said Reji Thazhamon, former vice-president of Overseas Indian Cultural Congress.

Addressing media persons here on Friday, he said that the NRKs who arrive at the Indian airports wearing nominal ornaments had to remit duty now. According to the Customs and Central Excise Rules 1967, a man and woman can bring gold ornaments worth Rs 10,000 and Rs 20,000 respectively. But owing to the rise in prices a woman wearing a chain worth two sovereigns or a man wearing a ring or a chain worth one sovereign have to pay duty.

Though amendments were made to the rule in 1998, no relaxation was given to the limit of ornaments. Reji urged the Chief Minister and Central Ministers from the state to intervene in the issue.



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