GST on Gold in India
Gold bars and coins carry 3% GST on the full price. Jewellery carries 3% GST on the whole bill, gold and making charges together. Local gold prices also include 15% import duty. Today 10 grams of 24K gold cost ₹1,18,499 at the world price and about ₹1,40,362 with tax and duty.
Rules checked 26 October 2026 · Prices Oct 30, 2026, 21:55 UTC · Not tax advice
Gold in India today, with tax
INR · Oct 30, 2026, 21:55 UTC| Weight | World price, 24K gold | Bar or coin, with tax and duty | 22K jewellery metal, with tax |
|---|---|---|---|
| 1 gram | ₹11,850 | ₹14,036 | ₹12,857 |
| 8 grams (1 sovereign) | ₹94,799 | ₹1,12,290 | ₹1,02,858 |
| 10 grams | ₹1,18,499 | ₹1,40,362 | ₹1,28,572 |
| 1 tola | ₹1,38,215 | ₹1,63,716 | ₹1,49,964 |
| 100 grams | ₹11,84,993 | ₹14,03,624 | ₹12,85,720 |
The rules in India
| What you buy | Tax | Details |
|---|---|---|
| Bars and bullion coins | 3% | Gold bars and coins carry 3% GST on the full price. Same 3% GST on all gold (HSN 7108/7118). No investment-gold exemption. |
| Jewellery | 3% | Jewellery carries 3% GST on the whole bill, gold and making charges together. Charged on: full value. |
| Import duty | 15% | 15% effective customs duty on gold since 13 May 2026: 10% basic customs duty plus 5% AIDC (Notifications 15-18/2026-Customs, the AIDC/SWS change in 16/2026). It was 6% before that. The IBJA benchmark includes duty but not GST. |
| Tourist refund | No | No working VAT/GST refund for tourists. Section 15 of the IGST Act allows one, but it has never been put into operation. |
Compared with nearby countries
| Country | Bars and coins | Jewellery | Import duty |
|---|---|---|---|
| India | 3% | 3% | 15% import duty |
| Pakistan | 0% | 3% | none |
| Bangladesh | 1% | 1.1% | baggage duty of Tk 5,000 per vori (about 2%) |
| Nepal | 0.5% | 0.5% | 20% customs duty |
GST on Gold in India: FAQ
Is there GST on gold in India?
Gold bars and coins carry 3% GST on the full price. Jewellery carries 3% GST on the whole bill, gold and making charges together.
Do you pay GST on gold bars and coins in India?
Gold bars and coins carry 3% GST on the full price. Same 3% GST on all gold (HSN 7108/7118). No investment-gold exemption.
Is there import duty on gold in India?
15% effective customs duty on gold since 13 May 2026: 10% basic customs duty plus 5% AIDC (Notifications 15-18/2026-Customs, the AIDC/SWS change in 16/2026). It was 6% before that. The IBJA benchmark includes duty but not GST.
Can tourists claim back the GST on gold in India?
No. No working VAT/GST refund for tourists. Section 15 of the IGST Act allows one, but it has never been put into operation.
Why is the gold price in India different from the world price?
Local gold prices also include 15% import duty. Dealers quoted a discount of up to $6/oz to the official domestic price, which includes 15% duty and 3% GST, on 9 Oct 2026. The discount was up to $14 a week earlier (Reuters via Engineering News). Discounts were large right after the May 2026 duty rise, and festival demand can swing it to a premium.
Sources (3)
Related
General information on the tax a private buyer pays, checked 26 October 2026. Rules change; check with the seller, the tax authority or an adviser. Not tax advice.