Understanding GST on Gold Purchases in India

Learn about the 3% GST on gold in India, customs duties, and making charges applicable to gold purchases.

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GST on gold in India is currently at 3% on the value of the gold. Additionally, an 8% customs duty and a 5% making charge GST may also be applicable, depending on the form of purchase. Ensure to check recent government guidelines for any updates.

FAQs & Answers

  1. What is the current GST rate on gold in India? The current GST rate on gold in India is 3% on the value of the gold.
  2. Are there any additional charges when purchasing gold in India? Yes, an 8% customs duty and a 5% making charge GST may also apply, depending on the purchase.
  3. How often does the GST rate on gold change? The GST rate on gold can change, so it’s essential to check the recent government guidelines for updates.
  4. What should I consider when buying gold in India? Consider the GST rate, customs duties, and making charges, as well as the credibility of the seller.

Watch More

For more insights into gold transactions and tax implications, check out our content on GST regulations and gold investment strategies.

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