I want to know the rate of Goods and Services Tax (GST) applicable on gold in India.
6 answers
EtherWhale
Mon Dec 02 2024
The Goods and Services Tax (GST) on gold purchases in India is subject to a specific rate.
Sara
Sun Dec 01 2024
The total GST on a gold purchase of Rs. 1,00,000 would amount to Rs. 3001.
Chiara
Sun Dec 01 2024
This rate is set at 3% of the value of the gold being purchased.
EnchantedSoul
Sun Dec 01 2024
The 3% GST is divided into two components: Central GST (CGST) and State GST (SGST).
Caterina
Sun Dec 01 2024
Each component is 1.5% of the gold's value.