What each purity actually costs
The benchmark is the only number the bullion association publishes, and every lower purity is just that number multiplied by a fixed ratio. The tax is separate, and it is what you hand over at the counter.
See why 22, 18 and 14 karat are the same quote multiplied by a ratio, not separate market prices.
The goods and services tax is charged on the finished piece, and it is the difference between the advertised rate and your bill.
The one cost no benchmark includes, and the first thing to ask a jeweller to itemise.
The ladder, and the tax the benchmark leaves out
Rates dated: 30.09.2026 03:45| Purity | Per gram | Share of 999 | GST at 3% | What you pay |
|---|---|---|---|---|
| 24K · 999 | ₹14,766.70 | 100.00% | ₹443.00 | ₹15,209.70 |
| 23K · 995 | ₹14,707.60 | 99.60% | ₹441.23 | ₹15,148.83 |
| 22K · 916 | ₹13,526.30 | 91.60% | ₹405.79 | ₹13,932.09 |
| 18K · 750 | ₹11,075.00 | 75.00% | ₹332.25 | ₹11,407.25 |
| 14K · 585 | ₹8,638.50 | 58.50% | ₹259.15 | ₹8,897.66 |
The association publishes these rates before tax; the last column adds the three per cent a buyer pays.
What a buyer needs to look at
Karat by karat
The lower purities are derived from the 24-karat rate, so a shop's 'better 22-karat rate' needs explaining.
02Morning and afternoon
The benchmark is published twice each trading day, and the two figures are never the same.
03What the tax adds
The goods and services tax is charged on top of the benchmark, at a rate of three per cent.
04Making charges
The cost nobody publishes, quoted as a percentage or per gram, and not part of any benchmark.
05Bars, coins, jewellery
The same metal in three forms, and what changes between them on the way in and out.
Start from the only published rate
The India Bullion and Jewellers Association announces its rate twice on every trading day. That is the reference for tax, for loans against jewellery and for buy-back counters. It is not a shop's price, and it is not what you pay.