I have purchased gold worth 1000 INR. Will I be getting gold worth 1000 or is there any tax applicable ? :

I have purchased gold worth 1000 INR. Will I be getting gold worth 1000 or is there any tax applicable ? Print

Created by: Bhargav Prasad

Modified on: Tue, 4 Oct, 2022 at 7:07 PM

Below image shows an invoice issued for INR 1001 purchase that explains the breakup.

A GST of 3% is imposed for all purchases made since gold is considered as a commodity.

Hence, users receive gold quantity in grams excluding the taxations, i.e. amount in Net Total.

Bhargav is the author of this solution article.

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