The Central Goods and Services Tax (GST) Act 2017 came into force on July 1, with an aim to bring a uniform tax scheme for the whole country. Let's take a look at the effect GST will have on gold. Previously, the tax on gold was around 2 per cent in most states, comprising of 1 per cent of excise duty and 1 per cent of VAT. With the GST roll-out, the tax rises to 3 per cent. This 1 per cent increase...
- 50 min ago