Quick Conversions
GST Rate on Gold — 10-Day Price Trend
All prices in ₹ per gram · daily rate, updated once per day
GST on Gold: 3% of the Taxable Value, Worked Out in Full
GST on gold jewellery in India is 3%, charged on the taxable value — the gold's metal value plus making charges added together, then taxed as one combined figure. This is specific to precious-metal jewellery; it is not the standard GST rate applied to most other goods and services.
Here is exactly how that plays out on a real bill, using round numbers to keep the arithmetic clear: 10 grams of 22K gold at ₹7,000/gram = ₹70,000. Add a 10% making charge (₹7,000) and the taxable value becomes ₹77,000. Apply 3% GST (₹2,310) on that combined figure, and the final bill comes to ₹79,310. GST is the last thing added, and it's calculated on gold value plus making charges together, not on the gold alone.
At today's actual rate of ₹15,031.44 per gram (24K, September 14, 2026), the same math applies to whatever weight and making charge your own invoice shows — only the numbers change, not the method.
Gold Price by Weight Before GST
Today's Gold rate is Fifteen Thousand Thirty One Rupees per gram. At this rate, 10 grams of Gold costs One Lakh Fifty Thousand Three Hundred and Fourteen Rupees.
| Unit | Weight | Price (INR) | Price in Words |
|---|---|---|---|
| 1 Gram | 1.0000 g | ₹15,031.44 | Fifteen Thousand Thirty One Rupees |
| 8 Grams | 8.0000 g | ₹120,251.52 | One Lakh Twenty Thousand Two Hundred and Fifty Two Rupees |
| 10 Grams | 10.0000 g | ₹150,314.40 | One Lakh Fifty Thousand Three Hundred and Fourteen Rupees |
| 100 Grams | 100.0000 g | ₹1,503,143.98 | Fifteen Lakh Three Thousand One Hundred and Forty Four Rupees |
| 1 Kilogram | 1,000.0000 g | ₹15,031,439.79 | One Crore Fifty Lakh Thirty One Thousand Four Hundred and Forty Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹426,133.80 | Four Lakh Twenty Six Thousand One Hundred and Thirty Four Rupees |
| 1 Troy Ounce | 31.1035 g | ₹467,530.39 | Four Lakh Sixty Seven Thousand Five Hundred and Thirty Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹15,031,439,791.00 | One Thousand Five Hundred and Three Crore Fourteen Lakh Thirty Nine Thousand Seven Hundred and Ninety One Rupees |
Why the Taxable Value Includes Making Charges
Before GST rolled out in July 2017, gold purchases in India were taxed through a patchwork of state-level VAT and other levies that differed from state to state. GST replaced that with one uniform 3% rate applied nationwide — a jeweller in Kerala and one in Punjab now apply the same percentage, on the same basis, even if their making charges and stone costs differ.
What actually varies bill to bill
The 3% rate never changes, but the taxable value it's applied to does — because making charges are not fixed. A machine-made piece with a modest making charge produces a smaller taxable value, and therefore less GST in absolute rupees, than a heavily hand-finished piece of identical weight (see our gold chain price page for how making-charge norms actually vary by workmanship). Stone-set jewellery adds another layer: gemstone value is typically billed and taxed separately from the gold, so an invoice with diamonds or coloured stones should show that split clearly rather than folding everything into one number.
Why BIS hallmarking matters alongside the tax
Hallmarking isn't a tax, but it protects the base the tax is calculated on. A BIS hallmark and HUID confirm the purity claim your bill is built on — without it, a jeweller could tax you correctly at 3% on a taxable value that's still wrong, because the underlying purity or weight was overstated. Our hallmarking page covers how to verify a piece independently.
Gold Price History — Last 10 Days
The most recent Gold price on record (2026-09-14) is Fifteen Thousand Thirty One Rupees per gram. This is down by Two Hundred and Sixty Nine Rupees from the previous day's rate of ₹15,300.41.
| Date | Price (INR/g) | Change |
|---|---|---|
| 2026-09-14 | ₹15,031.44 | -268.97 |
| 2026-09-13 | ₹15,300.41 | 0.00 |
| 2026-09-12 | ₹15,300.41 | -46.74 |
| 2026-09-11 | ₹15,347.15 | +66.38 |
| 2026-09-10 | ₹15,280.77 | -141.47 |
| 2026-09-09 | ₹15,422.24 | +121.11 |
| 2026-09-08 | ₹15,301.14 | -1.46 |
| 2026-09-07 | ₹15,302.59 | -8.75 |
| 2026-09-06 | ₹15,311.34 | 0.00 |
| 2026-09-05 | ₹15,311.34 | — |
Reading Your Invoice: What the 3% Should Actually Sit On
Ask for an itemised bill that shows gold weight and purity, the per-gram rate used, the making charge (and how it's calculated — percentage or flat per-gram), any stone or stone-setting cost separately, and GST as the final line applied to that combined taxable value. If a bill shows GST calculated on anything other than gold value plus making charges — or skips showing the breakup entirely — ask why before you pay.
GST is only one layer of what makes up a gold price in India; import duty is applied earlier in the chain, before the metal even reaches a jeweller's counter. Our gold import duty page explains that earlier layer, and our gold investments overview compares coins, bars, ETFs, digital gold and Sovereign Gold Bonds if you're weighing physical jewellery against other ways to hold gold value.
GST Rate on Gold — Common Questions
GST on gold jewellery in India is 3%, applied to the taxable value — gold value plus making charges combined. Worked example: 10g of 22K gold at ₹7,000/gram = ₹70,000, plus 10% making charges (₹7,000) = ₹77,000 taxable value, plus 3% GST (₹2,310) = ₹79,310 final bill.
GST is charged on the full taxable value — gold value plus making charges added together — not on the gold value alone. In the worked example above, the 3% GST (₹2,310) is calculated on the combined ₹77,000, not on the ₹70,000 gold value by itself.
The 3% rate is the same, but a coin or bar usually has no making charge, so the taxable value is simply the metal value — 3% on the gold price alone, without the making-charge step that a finished jewellery piece goes through.
MCX gold futures reflect market expectations, while jeweller pricing adds import duty, local premiums, wastage, making charges, hallmarking costs, and finally GST. The sticker rate at the counter is never just the raw gold rate.
Three steps: (1) gold weight × per-gram rate = gold value, (2) add the making charge (percentage or flat per-gram, per the jeweller's invoice) to get the taxable value, (3) apply 3% GST to that taxable value. The result is your final bill — see the worked example above for the exact arithmetic.
Yes. Most goods and services in India are taxed at higher standard GST slabs. Gold and silver get a special, lower 3% rate specific to precious metals — it only applies within India, and MetalsCost's calculators automatically hide it for every other country.
