Gold, silver to continue at 3% GST as Council leaves rates unchanged

Wed Sep 03 2025

Goods and Services Tax (GST) rates on gold and silver remain unchanged after the 56th meeting of the GST Council on Wednesday.

Gold and silver will continue to attract a 3% GST on value and a 5% GST on jewelry making charges, providing clarity for bullion and jewelry traders ahead of the festive season.

The decision came as the Council approved a major revamp of the indirect tax regime, replacing the earlier four-slab structure with a simplified two-slab system of 5% and 18%.

The move marks the rollout of the Centre’s “GST 2.0” reforms, scrapping the 12% and 28% slabs to simplify compliance and spur consumption. The decision also confirms a CNBC-TV18 exclusive on the new GST framework.

The GST Council also announced a 40% rate - the highest slab in the revised indirect tax regime - which applies to sin and luxury goods such as pan masala, tobacco, aerated beverages, personal aircraft and yachts.

Source: https://www.cnbctv18.com/