Gold rate after import duties and GST

If you are interested in purchasing the gold from Dubai and bring it to India then you will have to pay custom duty which is quite high at 36.05% (including cess). Those who do jobs there and stay for more than 6 months and then bring gold to India, there is a concessional rate of duty as 10.3% only.

Assuming that you simply go to Dubai and purchase gold say 10 grams of 22 caret quality then the calculations are as follows -
Current cost of gold : 10 gram (22 caret) in Dubai is Rs 34450 (after converting from AED to Rs)
Import duty : at the rate of 36.05% comes to 34450 x 36.05 / 100 = 12419
So landed cost in India is Rs 34450 + 12419 = Rs 46869
On the other hand the current cost of gold in India for 10 gram (22 caret) is only Rs 37900
So there is no point in bringing gold to India in that fashion.

Now coming to the next part of your question, I just mention that historically gold was thought to be a good investment option and had a good growth in its prices with time. Unfortunately the last decade was a bit stagnant in this respect any many people stopped buying it. It is difficult to predict the future price of the gold but seeing the historic average there can be increase in future and some people are buying it. Meanwhile Govt has come up with gold bond scheme also which is more lucrative than the physical gold as there is little interest also being paid on the Govt bonds. You can think of purchasing them if you are not purchasing the physical gold for jewellery purposes.

The cost as on date of 22 carat gold in Dubai is around Rs.3446/- per gram. The tax you have to pay there is 5%. that means the cost will be 3446 X105/100 = 3618 rupees per gram. You are allowed to carry gold up to Rs.50.000/- cost without paying any import tax. For ladies, it is up to 1,00,000 rupees. To that extent if you are bringing gold to it will be cheap as the rate in India is 3790/- per gram. Bringing more than that will be costly as you have to pay up to 36.05% duty. 3446X136.05/100 = 4688 rupees. It will be costly.
People staying abroad for more than six monthscan carry up to 1 Kg gold free of customs duty but GST is to be paid. For them, it will be cheap to get from Dubai.

Today's gold price in Dubai is less than Rs.3,070 compare to the gold price in India. Dirham to India Rupee conversion rate: 1 = 19.45 . 1 Dirham (AED) equals to 19.45 Indian rupee (INR).
Now you have import duty in the airport if you are bringing excess gold than what allowed by the government of India. Also, it is a known factor that the quality of gold is good in Dubai to compare the gold sell in India.

Now the details are giving below how much gold can bring from Dubai for an Indian citizen.

He or she can bring gold without duty (only if he has been residing abroad for more than six months) is 20 grams not costing more than Rs.50000 for a man and 50 grams for a woman. This applicable to children also. Also this for the gold in jewellery form only. If glod biscuits, this will not applicable.
If you need to bring more than the duty-free limit, need to pay 10.3 % import duty if you stayed more than six months abroad.

if you want to bring gold above duty-free allowance, you have to pay duty of 10.3 %. (if you have stayed there for more than 6 months) and if staying for less than six months, need to pay 36.05% as import duty.
Also, the maximum limit of gold import by an individual person is 1 kg in any form.