ADVERTISEMENT
GST Rates For Gold, Biscuits Finally Decided: What You Need To Know
GST Council at its 15th meeting finalised rates on gold, few other items Experts say the decided rate won't have much impact on prices The long-awaited GST is hailed as biggest tax overhaul since independence
03 Jun 2017, 08:02 PM IST 
Currently, gold is taxed around 2 per cent - 1 per cent excise and 1 per cent VAT (value-added tax).
The GST Council on Saturday at its 15th meeting finalised tax rates that will apply to gold and other items like biscuits and garments. Finance Minister Arun Jaitley, who chaired the meet, said gold and gold jewellery would attract a GST rate of 3 per cent. Tax experts say that GST rate of 3 per cent rate on gold won't be significantly different from the current tax regime on the yellow metal and this would be welcomed by the jewelle...
