GST on Jewellery
Goods and Services Tax on jewellery in India: 3% on the value of the piece, plus 5% on making charges.
The 3% applies to the value of the gold or silver itself. Making charges are taxed separately at 5%.
Some jewellers fold both into a single 3% line on the total, which is simpler and slightly different in amount.
Hallmarking charges are billed per item and attract their own tax.
When you are buying
A quote without tax is not a price. Ask for the final figure including GST before comparing two jewellers, since one may be quoting pre-tax and the other post-tax.
Making Charges
What you pay for craftsmanship on top of the metal, charged either per gram or as a percentage.
Gold Rate
The day's price of gold per gram at a stated purity. The base every gold bill is built on.
Wastage
An extra percentage added to the gold weight to cover metal lost during manufacture. Often charged even when no metal is lost.