Jayesh Shantilal Jain (35) and Shilpesh Jain (25) were carrying bags full of gold ornaments, weighing 15 kg in all, a railway police official said.
The action was taken on a tip-off from Mumbai police.
The accused were going to Vijayawada to deliver the ornaments but could not give proper information about the consignment, police said.
The Income Tax officials were called to take part in the probe which was underway, police said.