How a jewellery bill is calculated
The gold rate is quoted for 24K (pure) gold; 22K jewellery contains 91.6% gold, so its metal value is 91.6% of the 24K rate. Making charges usually range from 8% to 25% of the metal value, or a fixed amount per gram, depending on the design. GST of 3% applies to the full bill, including making charges.
Tips before you buy
- Check the BIS hallmark and 6-digit HUID on every piece
- Ask for making charges and stone weight separately on the bill
- For stones, make sure the stone weight is deducted from the gold weight
- Keep the bill: it proves cost when you sell and helps with capital gains
See today’s rates on our live gold and silver rate page.
Frequently Asked Questions
Is GST charged on making charges?
Yes. When a jeweller sells jewellery, 3% GST applies to the full value including making charges.
What are typical making charges?
Around 8–25% of the gold value, depending on the design and whether it is machine or handmade. Some jewellers charge a fixed amount per gram.
What is wastage in a jewellery bill?
An extra charge, as a percentage of weight, for gold lost while making the piece. Many jewellers now include it in making charges.
How do I calculate the value of my old gold?
Multiply the weight by the purity and today's 24K rate. Jewellers usually deduct a few percent when buying back old gold.
This is an estimate. Jewellers set their own rates and charges; check the final bill.