GST Rates on Gold: 3% GST applies to physical and digital gold purchases, including 24 Carat and 22-carat gold.
GST on Jewelry Making Charges: GST on gold ornaments is 3% of the total value, including gold and making charges.
GST Rate on Gold Purchase: The GST on gold in India is 3% (1.5% CGST + 1.5% SGST) of its value. For example, a ₹1,00,000 gold purchase attracts ₹3,000 GST. This rate applies to all gold forms, including jewellery, coins, and bars.
| Type of Custom Duty/ Rates | Gold Bar and Findings | Gold Dore | ||
|---|---|---|---|---|
| Old | New | Old | New | |
| Basic Custom Duty (BCD) | 10% | 5% | 10% | 5% |
| Agriculture Infrastructure and Development Cess (AIDC) | 5% | 1% | 4.35% | 0.35% |
| Total | 15% | 6% | 14.35% | 5.35 |
24 carat gold GST rate in India
GST on 24 carat physical gold is set at 3%. This rate applies to all forms of pure gold—whether in the form of gold bars, coins, or gold jewelry.
22 carat gold GST rate in India
GST on 22 carat physical gold is also 3%. This applies to the gold content in 22-carat gold jewelry, bars, or coins.
GST on digital gold
3% GST is charged for digital gold purchase.
GST on gold investment schemes
Gold investment schemes like Gold ETFs, Sovereign Gold Bonds, and Gold Mutual Funds are generally not subject to GST on the gold itself. However, GST applies to service charges, management fees, or other charges associated with these schemes. Therefore, investors must ensure that any service fees are accounted for, as they may attract 18% GST.
GST on gold HSN codes
| HSN code | Product description | GST Rate |
| 7108 | Gold (including gold bars and ingots) | 3% |
| 7113 | Articles of jewelry and parts thereof (including gold jewelry) | 3% |
| 7114 | Other articles of gold (excluding jewelry and parts) | 3% |
FAQs
Q1. How much GST on digital gold?
GST on digital gold is 3% on all expenses of insurance premium, cost of storage, and trustee fee, like the purchase of physical gold.
Q2. Do we need eway bill for gold transportation?
Until the CBIC notifies the removal of the exemption in chapter 71 on gold, e-way bill need not be generated. However, NIC has updated the system for a separate window to generate an e-way bill for gold movement.
Q3. Is GST applicable for exchanging old gold jewelry for new gold jewelry?
No, GST is not applicable for exchanging old gold jewelry for new gold jewelry in India.
