is gold rate including gst?
That’s a great question and I had the same confusion when I bought gold myself. Here’s what I’ve learned from my experience: the gold rate you see online or in the news is usually exclusive of GST. That rate only reflects the base price of gold, which is derived from international market prices and then converted to Indian rupees per 10 grams.
But when you actually go to buy gold the final bill includes multiple components:
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Base Gold Rate: This is the daily rate announced by the jeweller, which depends on purity (like 22K or 24K).
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Making Charges: Added by jewellers for crafting the ornament. This can be a flat fee or a percentage of the gold value.
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GST (3%): The government levies 3% GST on the total (gold + making charges).
If the gold rate today is ₹6,000 per gram, and you’re buying jewellery worth ₹60,000, the final price after making charges and GST could easily cross ₹62,000–₹63,000.
The tax is added at billing time, along with making charges. Whenever I shop for gold now, I always ask for a full cost breakup with base price, making charges, and GST to know exactly what I’m paying for.