Gold Rate Calculator: What Your Jewellery Will Cost
The full bill for gold jewellery or a coin: the gold at your jeweller's rate, making charges and 3% GST, and what the same gold would fetch if you sold it back.
A gold bill = gold value + making charges + 3% GST on both. Example: 10 grams of 22K jewellery when 24K gold is ₹14,000 a gram and making is 12%: the gold is ₹1,28,240, making ₹15,389, GST ₹4,309, total ₹1,47,938. That is ₹14,794 a gram, 15% more than the gold inside would fetch if sold back at the same rate.
The words on this page, explained simply
New to this? Here is what each term means, in plain English.
- Gold purity (karat)
- How much of the metal is pure gold. 24K (marked 999) is 99.9% gold; 22K (916) is 91.6%; 18K (750) is 75%. The rest is other metals that make jewellery harder. A 22K gram is worth 0.916 of a 24K gram.
- Making charges
- What a jeweller charges for turning gold into jewellery, on top of the price of the gold. It changes with the design and the jeweller, so ask before you buy.
- GST on gold
- 3% on gold, coins and jewellery, charged on the whole bill including making charges: ₹3,000 on a ₹1 lakh bill. No GST when you, as an individual, sell your old gold.
- HUID (hallmark code)
- A six-character code stamped on hallmarked jewellery by the Bureau of Indian Standards. Type it into the BIS CARE app to see the piece's purity and the jeweller who sold it.
- Gold ETF
- A fund traded on the stock exchange where each unit is backed by a fixed amount of real 24K gold held in a vault. Its value moves with the gold price every day, which is how the calculator knows the previous evening's rate.
- RBI's gold reference price
- The price RBI pays when Sovereign Gold Bonds are redeemed: the average closing price of 24K gold over the previous three business days, as published by the India Bullion and Jewellers Association. Official, but a few days old, so we use it to check the gold ETF price below.
The rate on a jeweller's board is the price of the gold alone. What you pay is more: making charges for the work, and GST on everything. This calculator adds them up, so you can compare two shops' quotes on the final bill, not on the board rate.
The rate box starts with the previous evening's price of 24K (999) gold, worked out from the values of India's gold ETFs, which AMFI publishes every evening. Each ETF unit is backed by a fixed amount of physical gold, so its value tracks the gold price; we match each ETF to RBI's latest Sovereign Gold Bond price (the average of the India Bullion and Jewellers Association's closing price) to find how much gold a unit holds. In tests the result was within 0.3% of IBJA's published closing price. Your jeweller's rate will differ a little; type it in.
How a gold jewellery bill is worked out
1. Gold value = weight in grams × the rate for that purity. A 22K rate is the 24K rate × 0.916, because 22K jewellery is 91.6% gold.
2. Making charges, quoted as a percentage of the gold value or a fixed amount per gram. They are the jeweller's charge for the work and you do not get them back when you sell.
3. Stones, enamel and hallmarking are charged on top. Stones should be weighed and priced separately, not at the gold rate.
4. GST at 3% on the total of all the above.
| Purity (10 grams) | Gold value | Bill with 12% making and 3% GST |
|---|---|---|
| 24K (999) | ₹1,40,000 | ₹1,61,504 |
| 22K (916) | ₹1,28,240 | ₹1,47,938 |
| 18K (750) | ₹1,05,000 | ₹1,21,128 |
| 14K (585) | ₹81,900 | ₹94,480 |
Example at ₹14,000 a gram for 24K gold.
GST on gold
Gold, silver, jewellery and coins are taxed at 3% GST, a rate the September 2025 GST reform left unchanged. When you buy jewellery, the 3% applies to the whole value of the sale, including making charges, because the making is part of the price of the article. The bill usually shows it as 1.5% CGST plus 1.5% SGST.
Selling old gold to a jeweller as an individual attracts no GST. A gold ETF or gold mutual fund has no GST on the units.
Selling or exchanging old gold
A jeweller pays for the pure gold in your piece: weight × purity × the day's 24K rate, minus any deduction they make for melting or testing. Making charges and GST paid at purchase are lost. Ask for the purity test result and the deduction in writing before you agree.
Hallmarked jewellery carries the BIS mark, its purity and a six-character HUID code; you can check the HUID in the BIS CARE app before you buy or sell.
Key takeaways
- Bill = gold value + making + other charges, plus 3% GST on all of it.
- 22K rate = 24K rate × 0.916; 18K = × 0.75.
- Compare jewellers on the final bill: making charges vary more than the gold rate.
- On resale you get back only the gold, not the making charges or GST.
Frequently asked questions
How do I calculate the price of gold jewellery?
Multiply the weight by the rate for its purity, add the making charges and any stone charges, then add 3% GST on the total.
How much GST is charged on gold?
3% on gold, gold coins and jewellery, on the full bill including making charges. On a ₹1 lakh bill before tax, GST is ₹3,000.
How do I convert the 24K rate to 22K?
Multiply by 0.916. If 24K gold is ₹14,000 a gram, 22K is ₹12,824.
Are making charges refunded when I sell gold?
No. A jeweller pays only for the gold content, at the day's rate, minus any deduction they make.
Where does the rate in the calculator come from?
From the previous evening's values (NAVs) of India's gold ETFs, published by AMFI, each matched to RBI's latest Sovereign Gold Bond price to find the gold behind a unit. The ETFs agree with each other within a few rupees, and the result was within 0.3% of IBJA's closing price in our checks. Use your jeweller's rate for the bill.