For ordinary finished gold jewellery in India, GST is 3% of the total transaction value, including making charges. The same 3% rate is listed for gold in unwrought or semi-manufactured form and for coins classified under heading 7118; numismatic coins under heading 9705 have a separate 5% rate. The product’s tariff classification matters, so do not assume every coin or gold item is taxed alike.
Calculate GST on jewellery
Use this formula:
GST = taxable transaction value × applicable GST rate
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For jewellery classified under heading 7113, the listed rate is 3%. Apply it to the total transaction value, not just the gold component.
Example: If the gold value is ₹28,000 and making charges are ₹2,000, the transaction value is ₹30,000. GST is ₹30,000 × 0.03 = ₹900.
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- ✔️Each coin contains 1/10 oz of gold.
- ✔️Obverse: Lady Liberty holding a torch with an olive branch.
- ✔️Reverse: The Type 1 reverse, used from 1986-2021, shows a male bald eagle in flight carrying an olive branch to his nest, where a female awaits with her young. The Type 2 reverse, introduced in 2021, shows a bold close-up portrait of an eagle.
- ✔️Each Gold Eagle is a sovereign monetized bullion coin fully guaranteed by the U.S. Mint.
CBIC’s Sectoral FAQs, jewellery question 7, state that GST is payable at 3% of the total transaction value “whether the making charge is shown separately or not.” Do not calculate 3% on the gold and then add a separate 5% GST on retail making charges for that jewellery supply.
Rates for jewellery, gold and coins
CBIC’s GST Goods and Services Rates schedule lists these rates by tariff heading:
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| Product category | Heading | Listed GST rate |
|---|---|---|
| Gold jewellery | 7113 | 3% |
| Gold, unwrought or semi-manufactured, commonly relevant to bars | 7108 | 3% |
| Coins | 7118 | 3% |
| Numismatic coins | 9705 | 5% |
The coin’s classification and character can affect the rate: a numismatic coin is not automatically treated as a coin under heading 7118. For unusual products, verify the applicable tariff entry and current notification rather than relying on the everyday product name.
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How GST appears on the invoice
The total rate remains 3%, but the tax components depend on the supply. For an intra-State supply, the schedule shows 1.5% CGST plus 1.5% SGST or UTGST. For an inter-State supply, it shows 3% IGST. The supply and invoice facts determine which presentation applies.
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- Quatity: You will receive 120 pcs plastic gold coins, plenty of quantity, suitable as toys party favors for kids over 3 years old.
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- Material: These pirate coins are made of non-toxic plastic with a gold plated surface, thick, not easy to fade and deform, reusable to meet your long-term needs.
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Retail making charges are not job-work charges
A retailer selling finished jewellery to a customer applies 3% to the total jewellery transaction value, including making charges. That is different from a job-work service. CBIC’s Sectoral FAQs state that when gold is supplied as raw material to a registered job worker and returned as finished goods, the job worker pays 5% GST on the job charges only. The manufacturer may take credit of tax paid on that job work and use it toward GST on the outward jewellery supply, subject to applicable rules. This job-work rate is not the rate to apply to a retailer’s making charges on a customer’s jewellery bill.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Which value should you use?
For a usual consumer purchase, start with the taxable value shown on the invoice. Section 15 of the CGST Act generally uses transaction value when the supplier and recipient are not related and price is the sole consideration. It includes specified amounts such as incidental expenses and charges for things done in relation to the supply. CBIC’s CGST Act and valuation rules provide the framework, including alternative valuation methods when ordinary transaction value cannot determine the value.
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- GREAT FOR GAMES: Whether you are playing Dungeons and Dragons, Red Dragon Inn, Puerto Rico, Gloomhaven, or Age of Empires, these metal coins are an excellent realistic touch to all of your favorite board games.
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Unusual discounts, related-party transactions, bundled supplies or other valuation complications may need case-specific review. This calculation covers GST only; it does not calculate the gold price, purity-based metal value, hallmarking costs, import duties or other levies. Purity may affect the underlying gold price, but the cited schedule’s rate entries are based on product classification, not a carat-based GST rate.
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