GST may make gold costlier
By GCRU Gold News on Friday, April 7 2017, 03:48 - Permalink
Gold may become costlier for Indians if the government accepts chief economic advisor Arvind Subramanian's suggestion to put the yellow metal in the 12% tax bracket under GST.
With an import duty of 10%, tax on gold may turn out to be 22%, which will reduce its consumption in the physical form in the second largest gold consuming nation in the world.