TaxTMI 
TaxTMI 
TaxTMI 
1. What will be the impact on Gold rate at market after introduction of GST?
2. What will be the impact for the banking institution for already mortgaged gold loans ?
Impact of GST on Gold Rates
Karthik Ramanathan
Impact of 3% GST on Gold Rates and Banking Institutions with Mortgaged Gold Loans Discussed A discussion forum addressed the impact of the Goods and Services Tax (GST) on gold rates and banking institutions with mortgaged gold loans. A participant inquired about the market effects of GST on gold and its implications for banks. A respondent clarified that gold, including gold plated with platinum, is subject to a 3% GST as per the GST Council's meeting. However, further instructions or procedures from the government or GST Council are still pending. The inquirer acknowledged the response with thanks. (AI Summary)