GST On Gold & Jewellery Explained: Rates, Latest Changes, and Key Details You Must Know

Описание: GST On Gold & Jewellery Explained: Rates, Latest Changes, and Key Details You Must Know

The 56th GST Council meeting has clarified the tax structure for gold and jewellery, keeping the GST on gold coins, bars, and jewellery at 3%. Making charges on jewellery continue to attract 5% GST. This means buying a gold coin worth ₹1,00,000 will still cost ₹1,03,000, while jewellery with ₹5,000 making charges will cost ₹1,08,250, including taxes.

The Council has also simplified India’s broader GST structure into three main slabs, 5%, 18%, and 40% with the 40% rate applying only to sin goods and luxury items.

These reforms aim to reduce the tax burden on everyday items and support middle-class households, while luxury and harmful products continue to face higher rates. Understanding these updates will help buyers plan purchases and manage expenses effectively.
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