Gold prices in India: GST on coins, jewelry remains unchanged
Business
The GST Council, led by Finance Minister Nirmala Sitharaman, just decided to keep things steady—gold coins and bars will still have a 3% GST, and making charges for jewelry stay at 5%.
How much will you pay for gold?
If you buy a gold coin worth ₹1 lakh, you'll pay ₹1.03 lakh after the 3% GST.
For jewelry, there's both a 3% tax on the gold itself and another 5% on making charges—so if your jewelry costs ₹1 lakh with ₹5,000 in making charges, your total bill goes up to about ₹1.08 lakh after taxes.