What is today's 24K and 22K gold rate in India?

Gold rates in India are updated live based on global bullion markets, MCX futures, and currency exchange rates. 22 Karat (916 hallmark) gold is calculated as 91.6% of the 24 Karat pure gold price.

What is the total GST rate on gold jewellery in India?

Gold jewellery attracts a total GST of 3% (1.5% CGST + 1.5% SGST or 3% IGST) on the total value of the jewellery, which includes the pure gold metal value, precious stone value, and making charges as a composite supply.

What is the GST rate on making charges of gold jewellery?

When buying finished jewellery from a retailer, making charges are part of a composite supply taxed at 3% GST. However, if a customer gives their own raw gold to a goldsmith for standalone job work fabrication, the making charges attract 5% GST (2.5% CGST + 2.5% SGST) under HSN 9988.

Is GST applicable when exchanging old scrap gold?

No. Selling old gold by an unregistered individual consumer to a jeweller does not attract GST. Under Section 9(4) exemption notifications, reverse charge mechanism (RCM) does not apply. When exchanging old gold for new jewellery, the jeweller deducts the net scrap value from the final gross bill.

What is the HSN code for gold jewellery and bullion?

The HSN code for finished gold jewellery is 7113. The HSN code for unwrought gold, bullion, bars, and coins is 7108. Job work making by goldsmiths falls under SAC 9988.

Is PAN card mandatory for buying gold jewellery?

Under Rule 114B of the Income Tax Rules, providing a PAN card is mandatory for any cash purchase of gold jewellery exceeding ₹2 Lakhs per transaction. Under Section 269ST, jewellers cannot accept cash payments of ₹2 Lakhs or more in a single day from one person.

What is the GST on BIS Hallmarking charges?

The statutory BIS hallmarking fee is ₹45 per gold article, which attracts 18% GST (₹8.10), making the total hallmarking cost ₹53.10 per piece.

Live Automated Daily Rates & Retail Jewellery GST Calculator

Today Gold Rate in India & Gold GST Calculator

Auto-updated daily market prices for 24K, 22K (916), and 18K gold. Calculate 3% GST on jewellery, making charges, BIS hallmarking fee, and generate printable retail estimate slips.

National Bullion Benchmark (Live Indian Spot Rates)• 7 September 2026, 12:17 pm IST

24K Pure Gold (10g) ₹1,52,475(₹15,248 / g)

22K Hallmark 916 (10g) ✓₹1,39,667(₹13,967 / g)

18K Hallmark 750 (10g) ₹1,14,356(₹11,436 / g)

Silver 999 (1 Kg)₹2,31,489(₹2,315 / 10g)

Live Gold GST & Jewellery Invoice Calculator

22K (916) Selected

Updated with CBIC Notification No. 20/2019-CT(R) & BIS Hallmarking Rules

1. Gold Purity & Metal Rate

Select Gold Karat / Purity

22K Gold Rate (per 10g)Editable

₹

Selected Purity Rate (22K • Hallmark 916):₹13966.70 / gram

2. Jewellery Weights & Stones

Gross Weight (Grams)

Stone Weight (Grams)

Stone / Diamond Value (₹)

Net Pure Gold Weight = 12.500 grams (22K Gold).

3. Making / Wastage Charges

Making Charge Rate (%)

Calculated Making Amount:₹20950.05

4. Hallmarking & Scrap Gold Exchange

Include BIS Hallmarking (₹45 + 18% GST)Deduct Old Gold Scrap Exchange

5. Shop & Customer Details (For Printable Slip)

Jeweller Firm Name

Shop Address & City

Shop GSTIN

Shop Phone

Customer Name

Customer Mobile

Quotation & Tax Invoice22K (916)

Itemized Cost Breakdown

HSN 7113

22K Gold (12.500g @ ₹13966.70/g):₹174583.75

Making Charges (12%):₹20950.05

Total Taxable Value:₹195533.80

CGST (1.5%):₹2933.01

SGST (1.5%):₹2933.01

Total 3% GST:₹5866.01

BIS Hallmarking (₹45 + 18% GST):₹53.10

Net Amount Payable (22K Gold)

₹2,01,452.91

100% Tax & BIS Hallmarked Compliant Valuation

Shree Ganesh Jewellers

Shop No. 14, Zaveri Bazaar, Mumbai, MH - 400002

GSTIN: 27AABCU9603R1ZM•Phone: +91 98200 12345

RETAIL JEWELLERY TAX ESTIMATE / INVOICE

Customer Name: Walk-in Customer

Contact No: N/A

Invoice / Estimate No: EST-2026-0842

Date: 2026-09-07

HSN Code: 7113 (Gold Jewellery)

Description / Specifics	Purity / Karat	Weight (g)	Rate / g	Amount (₹)
Gold Metal Value	22K (916)	12.500g	₹13966.70	₹174583.75
Making / Craftsmanship Charges	12%	-	-	₹20950.05
BIS Hallmarking (Statutory HUID Fee)	6-Digit HUID	1 Pcs	₹45 + 18%	₹53.10

Taxable Value:₹195533.80

CGST @ 1.5%:₹2933.01

SGST @ 1.5%:₹2933.01

Total 3% GST:₹5866.01

Gross Invoice Value:₹201452.91

NET PAYABLE:₹201452.91

Terms & Conditions:

1. Gold purity & weight verified as per BIS Hallmarking guidelines.

2. Making charges are non-refundable on returns/exchange.

3. This is a computer-generated jewellery tax quotation slip.

Authorized Signatory / For Shree Ganesh Jewellers

State & City Price Trends

Today's Gold Rate in Major Indian Cities (7 September 2026)

Compare live retail prices for 24 Karat pure gold, 22 Karat jewellery hallmark gold, and Silver across top Indian cities.

City / Region	State	24K Gold (10g)	22K Gold (10g)	18K Gold (10g)	Silver (1 Kg)
Mumbai	Maharashtra	₹1,52,475	₹1,39,769	₹1,14,356	₹2,31,489
Delhi	Delhi NCR	₹1,52,625	₹1,39,906	₹1,14,469	₹2,31,789
Bengaluru	Karnataka	₹1,52,395	₹1,39,695	₹1,14,296	₹2,31,339
Chennai	Tamil Nadu	₹1,52,655	₹1,39,934	₹1,14,491	₹2,31,889
Hyderabad	Telangana	₹1,52,575	₹1,39,860	₹1,14,431	₹2,31,689
Kolkata	West Bengal	₹1,52,595	₹1,39,879	₹1,14,446	₹2,31,739
Ahmedabad	Gujarat	₹1,52,425	₹1,39,723	₹1,14,319	₹2,31,389
Jaipur	Rajasthan	₹1,52,575	₹1,39,860	₹1,14,431	₹2,31,689
Pune	Maharashtra	₹1,52,525	₹1,39,815	₹1,14,394	₹2,31,589
Lucknow	Uttar Pradesh	₹1,52,635	₹1,39,915	₹1,14,476	₹2,31,839

Statutory Tax Framework

Complete GST Rates on Gold & Jewellery in India (2026)

Under the Goods and Services Tax (GST) regime, gold transactions are categorized into raw metal, finished jewellery, job work manufacturing, and statutory hallmarking certifications. Below is the statutory tax structure verified under the CGST Act:

Gold Category / Transaction Type	HSN / SAC Code	GST Rate	Tax Structure Breakdown
Raw Gold, Bullion, Dore Bars, Coins	HSN 7108	3%	1.5% CGST + 1.5% SGST (or 3% IGST)
Finished Gold Jewellery & Articles	HSN 7113	3%	3% on (Gold + Stones + Making Charges)
Goldsmith Job Work (Customer's Gold)	SAC 9988	5%	2.5% CGST + 2.5% SGST (Notif. 20/2019)
BIS Hallmarking & Assay Testing	SAC 9983	18%	₹45 Fee + ₹8.10 GST = ₹53.10 / Piece
Selling Old Scrap Gold to Jeweller	HSN 7108/7113	0% (Exempt)	Exempt from RCM under Section 9(4)

How GST is Calculated on Gold Jewellery (Practical Formula)

When purchasing gold jewellery from a retail showroom, the total cost comprises four components:

Total Jewellery Price = [Gold Metal Value + Making Charges + Stone Value] + 3% GST + Hallmarking (₹53.10)

Gold Metal Value: Calculated by multiplying the net pure gold weight (in grams) by the current per-gram market rate for that specific karat (e.g. 22K = 91.6% of 24K rate).
Making Charges (Craftsmanship): Jewellers levy making charges either as a percentage (typically 8% to 25%) or as a fixed per-gram charge (e.g. ₹400–₹800/gram).
Composite Supply Principle: Under Section 8 of the CGST Act, when jewellery is sold as a finished product, the entire bundle (gold + making charges) is treated as a composite supply of goods taxed at 3% GST.

GST Rules on Exchanging Old Scrap Gold

A major point of confusion for consumers and jewellers is whether GST applies when exchanging old family jewellery for new gold ornaments. Here are the statutory rules:

Sale by Individual Consumer

When an individual sells their personal old jewellery to a jeweller, it is not considered in the course or furtherance of business. Hence, no GST is payable by the consumer.

No Reverse Charge (RCM) on Jeweller

CBIC circulars have clarified that purchases of second-hand gold from unregistered consumers do not attract Reverse Charge Mechanism (RCM) under Section 9(4). The jeweller simply deducts the net scrap value from the invoice.

Mandatory GST & Tax Compliances for Indian Jewellers

To operate legally and avoid heavy penalties from the GST Department and Income Tax authorities, jewellery showrooms and wholesalers must comply with these statutory rules:

Mandatory BIS 6-Digit HUID Hallmarking

All gold jewellery sold in India must carry the official Bureau of Indian Standards (BIS) hallmark, purity mark (e.g. 22K916), assay centre logo, and 6-digit alphanumeric HUID (Hallmark Unique Identification).

Income Tax Cash Restrictions (Section 269ST & Rule 114B)

Cash receipts of ₹2 Lakhs or more in a single day or against a single invoice are strictly prohibited under Section 269ST. Collecting the customer's PAN card is mandatory for any purchase exceeding ₹2 Lakhs.

E-Invoicing & E-Way Bill Regulations

B2B jewellers with aggregate turnover exceeding ₹5 Crores must generate electronic invoices (IRN) with signed QR codes. Intra-state transport of gold is exempt from standard E-Way Bills under Rule 138(14), but state-specific e-transit passes may apply.

GSTR-1 HSN Code Reporting (Table 12)

Jewellers must report Table 12 HSN summaries with 4-digit (turnover up to ₹5 Cr) or 6-digit (turnover > ₹5 Cr) codes: HSN 7108 for bullion/coins and HSN 7113 for finished jewellery.

Physical Gold vs Digital Gold vs SGB: Tax Comparison

Investment Vehicle	GST Rate at Purchase	Capital Gains Tax	Making & Storage Charges
Physical Jewellery	3%	12.5% LTCG (holding > 24 months)	8% – 25% Making Charges
Gold Coins / Bars	3%	12.5% LTCG	1% – 3% Minting Fee
Digital Gold	3%	12.5% LTCG + 3% GST on delivery	Vault storage fee included
Sovereign Gold Bonds (SGB)	0% (Nil)	100% Tax-Free on Redemption	Zero (Pays 2.5% p.a. interest)

Frequently Asked Questions (FAQs) on GST in Gold

The GST rate is exactly 3% across all purities of gold (24K, 22K, 18K, 14K, and 9K). The only difference is the base metal value per gram, which is proportional to the gold content (e.g. 22K is 91.6% pure).

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