GOLD GST RATE UPDATE// HOW MUCH IS THE GST CHARGE FOR ORNAMENTS WORTH 100000

A big gift from the central government to the people before the bengal festive season. The 56th meeting of the GST Council was held in New Delhi on Wednesday.  In that meeting, Union Finance Minister Nirmala Sitharaman announced the new GST rate. This new GST going be effective from September 22nd. Also, this new GST will be levied in two slabs instead of four. Also, in some special cases, GST will be levied at a rate of 40 percent. Along with this, 3% GST on gold and silver and 5% GST on jewelry making charges will be applicable (GST On Gold). So if you give gold worth Rs 1 lakh to Rup, then you will have to pay Rs 3000 GST. Planning to buy gold jewelry? Here is the estimated cost of Rs 1 lakh including GST (GST On Gold) Finance Minister Nirmala Sitharaman announced the new GST rate after the first meeting of the Council on Wednesday. These GSTs will be effective from September 22nd. In a press conference after the meeting on Wednesday, the Finance Minister said that the 12% and 28% GST slabs have been abolished.  The price of gold has slightly decreased due to this new GST . After the ongoing GST Council meeting in New Delhi on Wednesday, it is being considered as a big step towards simplifying and reducing tax rates for the common man. In addition, the finance ministers of all the states have agreed to implement this new labor policy. Incidentally, now there will be only two tax slabs in the country. Which are 5% and 18%. Along with this, there is no significant change in the price of gold and silver after the GST Council meeting. However, where gold is being sold above lakhs of rupees. There has been a slight decrease in the price of the yellow metal. However, some states have demanded compensation for the loss caused by this new GST version and have said that they may face a big loss in income. However, under this new tax version, consumers will get benefits. Along with consumers, traders will also benefit from the simplified process. However, the price of gold in India is already skyrocketing. According to experts, the price of gold in India depends on many factors like international prices and import duties and taxes and the exchange rate of the dollar to rupee. And this is why the price of gold changes every day. In addition, gold prices are rising due to Trump's tariff policies.