Buying gold this Dhanteras? What 10 grams really costs after making charges and GST

Every Dhanteras, the same thing happens. You check the gold rate, do the maths for 10 grams, and then the bill comes in noticeably higher. The difference comes from making charges and GST, and the GST part is often explained wrongly.

The formula

Bill = (gold rate per gram × weight) + making charges + 3% GST on (gold value + making charges)

Here's an example. It's not today's rate. It just shows how the percentages stack up:

So at 10% making, you pay about 13.3% more than the gold value. At 15% making it's about 18.5%, and at 20% about 23.6%. Making charges matter far more than GST.

Our gold price calculator does this for any rate, weight and purity. You enter the rate. We deliberately don't show a "live" price we can't stand behind.

Where to get the day's rate

• Your jeweller's board. Ask whether it's the rate for 22K or 24K, and whether it's per gram or per 10 grams.
• IBJA (ibjarates.com) publishes daily benchmark rates for different purities. These exclude GST and making charges, and your jeweller's rate may differ a little.

GST: 3% on everything, or 5% on making?

This confuses a lot of people, and some articles say making charges carry 5% GST. Here's what the official rule says.

CBIC's GST FAQ for the gems and jewellery sector (Question 7) takes exactly this case: a 10 g chain, ₹28,000 of gold and ₹2,000 of making. Should it be 3% on the total, or 3% on gold plus 5% on making? The answer:

"GST is payable at the rate of 3% of the total transaction value of jewellery, whether the making charge is shown separately or not."

The 5% rate applies to job work (Question 8). That's when a jewellery manufacturer gives gold to a registered job worker, who charges 5% on the job charges only. It's a business-to-business rate, not what you pay when you buy a finished piece in a shop.

If you're having old gold remade rather than buying new, ask the jeweller how they'll bill it before they start.

The 3% rate itself didn't change in the September 2025 GST overhaul. Gold and silver sit in a special slab that the two-rate restructuring didn't touch (Mint).

The 60-second hallmark check

Since 1 April 2023, BIS-registered jewellers can only sell gold jewellery with an HUID hallmark (PIB). Look for three marks:

1. The BIS logo
2. Purity: carat and fineness, e.g. 22K916 (22 carat), 18K750 or 14K585
3. HUID: a 6-character alphanumeric code unique to that piece

Then verify it: open the BIS Care app, tap Verify HUID and type the code. It should show the jeweller and the article's purity and type. If it doesn't match what's on the bill, don't pay. Any BIS-recognised assaying and hallmarking centre can also test hallmarked jewellery for ₹200 (PIB).

Coin, jewellery or digital gold?

• Jewellery has the highest making charges, which you mostly don't get back when you sell.
• Coins and bars usually carry much lower making charges than jewellery, around 2–3% (Mint). GST is still 3%.
• Digital gold also attracts 3% GST on purchase, and more GST if you later convert it to physical gold. Gold ETFs don't attract GST (Mint).

If you're buying mainly as an investment, the lower costs of coins or ETFs add up. If you're buying to wear, compare making charges across shops. That's where the difference is.

Before you pay: a checklist

• Get the purity right. Most jewellery is 22K, and coins are usually 24K.
• Get the bill itemised: weight, purity, rate, making charges and GST, each shown separately.
• Check the GST: 3% on gold plus making, not more.
• Verify the HUID in the BIS Care app.
• Know the timing: Dhanteras is Fri 6 Nov. See the Festival Kab Hai tool for puja timings.

Timeline

1. 1 Jul 2017

   GST launches; gold is put in a special 3% slab.

2. 1 Apr 2023

   Only HUID-hallmarked gold jewellery can be sold by BIS-registered jewellers (PIB).

3. Sep 2025

   GST rates rationalised; the 3% rate on gold and silver is unchanged (Mint).

4. Fri 6 Nov 2026

   Dhanteras. Puja 6:02–7:57 PM (New Delhi).

5. Sun 8 Nov 2026

   Diwali (Lakshmi Puja).