New Delhi, India – The implementation of Goods and Services Tax (GST) has significantly impacted the gold jewellery industry in India. Whether you are buying 18K, 22K, or 24K gold, it is essential to understand how GST is applied to gold purchases, making charges, and overall tax calculations. Corpzo, a leading financial and legal consultancy firm, provides expert guidance on GST compliance for jewellers, traders, and buyers.

GST Rates on Gold Jewellery
The GST rate on gold jewellery is set at 3% on the gold value and an additional 5% GST on making charges. Here’s a breakdown of the tax structure:

✅ GST on Gold (Raw Material) – 3%
✅ GST on Making Charges – 5%
✅ Import Duty on Gold – 15% (applicable to imported gold)

For example, if you purchase 22K gold jewellery worth ₹50,000, the GST on gold will be ₹1,500 (3%), and if the making charge is ₹5,000, the GST on making charges will be ₹250 (5%).

Impact of GST on Gold Prices
Before GST, gold was taxed under VAT and Excise Duty, but after its implementation, a uniform 3% GST has simplified taxation. However, with import duties and making charge taxes, the overall cost of gold jewellery has increased slightly.

How GST Affects Gold Buyers and Sellers?