can i claim gst on gold?
You can claim GST on gold, but only if you’re a registered business under GST and the gold you’re buying is used for business purposes not for personal investment or jewellery. For example, if you run a jewellery shop or are a gold trader, you can claim the input tax credit (ITC) on the 3% GST charged on gold value and the 5% GST on making charges, provided you have a proper tax invoice from your supplier. But if you’re buying gold jewellery for personal use, even if you have a GST bill, you can’t claim it back. It’s treated as a personal expense, not a business input..