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https://www.mastersindia.co/gst/gst-on-gold/
Oct 31, 2020 · With the introduction of GST, the value of Gold has increased by approximately 0.75%. Before the GST era, Gold was taxed at 2% (1% as VAT and 1% as Service Tax). The government has notified that GST will be levied at 3% on gold purchased.Estimated Reading Time: 2 mins
https://www.idealconsultax.com/post/tax-on-sale-of-inherited-gold-jewelry-in-india
Aug 05, 2020 · And it's very common in India to sell and purchase gold and other jewelry on various occasions such as during festivals or family events like a wedding or birthday. But even though this is the most common form of investment, yet many people are unaware of or ignoring taxability on the sale of Gold and other jewelry.Estimated Reading Time: 4 mins
https://www.gsthelplineindia.com/blog/2017/07/06/gst-impact-on-gold/
Jul 06, 2017 · Hence, in the light of the 3 percent GST tax on gold, the prices of jewellery in India is expected to rise. Before GST, one percent excise duty was slapped on gold and around one percent was levied by most of the states as Value Added Tax (VAT). Only Kerala used to tax gold at five per cent.Reviews: 1
https://www.goodreturns.in/classroom/gst-on-gold-how-to-calculate-gst-on-gold-and-gold-jewellery-1208855.html
Apr 14, 2021 · When purchasing gold jewellery, one had to pay Value Added Tax (VAT) of 1.2% and Excise Duty of 1% in addition to the Customs Duty. ... The aim of this exemption is to make India's gold …Author: Sneha Kulkarni
https://taxguru.in/goods-and-service-tax/gst-effect-gold-jewellery.html
GST effect on Gold Jewellery. Before the GST was implemented in India, a potential buyer of gold/gold jewellery had to pay 1.2% VAT along with 1% excise duty and 10% customs duty for the procurement of gold. The GST council has decided a rate of 3% of GST on gold, thus, Value Added Tax (VAT) and Excise Duty have been replaced by 3% of GST.Email: [email protected]
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