Impact of GST on Gold Rates, Goods and Services Tax - GST

[Karthik Ramanathan]

1. What will be the impact on Gold rate at market after introduction of GST?

2. What will be the impact for the banking institution for already mortgaged gold loans ?

Posts / Replies

[Rajagopalan Ranganathan]

Sir,

1. As per GST RATE SCHEDULE [As per discussions in the GST Council Meeting held on 3rdJune, 2017] Gold (including gold plated with platinum) unwrought or in semi manufactured forms, or in powder form is leviable to GST @3%.

2. Instructions or procedure in this regard is awaited from the Government/GST Council.

[Karthik Ramanathan]

ok sir. thank you for the information.