How much gold can I buy for ₹1 lakh?▼
At today's 22K rate of ₹.../gram, a ₹1 lakh budget gets you approximately ... grams of 22K jewelry (after making charges and GST).
What are making charges on gold jewelry?▼
Making charges cover the craftsmanship cost. They range from 8% for simple bangles to 15%+ for intricate earrings and necklaces. Coins and bars have zero making charges.
What is wastage charge in gold?▼
Wastage charge (1-3%) covers gold lost during manufacturing — filing, polishing, and shaping. More intricate designs have higher wastage. It's charged on top of the gold value.
How is GST applied on gold jewelry?▼
GST on gold jewelry has two components: 3% GST on the gold value, and 5% GST on making charges. For example, on ₹1 lakh gold with ₹10K making charges, you pay ₹3,000 + ₹500 = ₹3,500 GST.
Which gold karat is best for investment?▼
24K (999 purity) is best for investment as it's pure gold with no alloy. For jewelry, 22K (916) is standard in India. 18K is used for fashion jewelry with gemstones.