Gold Price in India: Import Duty, GST and HUID Hallmarking Explained
Why gold in India costs more than the world price: import duty, GST on gold and making charges, the HUID hallmark, and the festival seasons that move demand.
India is one of the two largest gold markets in the world. Prices are quoted per 10 grams and are usually higher than the international price converted into rupees, because of duties and taxes.
Today's gold price in India
| Karat | Per gram | Per 10 grams |
|---|---|---|
| 24K | ₹11,995 | ₹119,949 |
| 22K | ₹10,995 | ₹109,954 |
| 18K | ₹8,996 | ₹89,962 |
These figures are international parity; local retail rates include the duties below.
Why is gold more expensive in India than the world price?
- Import duty. India imports almost all its gold. The duty was cut to 6% in the July 2024 Union Budget; it has changed many times, so check the current rate.
- GST. 3% GST applies to the value of gold, and making charges carry their own GST (5% at the time of writing).
- Making charges vary from a few percent for machine-made chains to much more for handmade bridal sets.
What is HUID hallmarking in India?
Since 2021, and with the six-digit HUID (Hallmark Unique Identification) required on jewellery from April 2023, gold jewellery sold in India must be hallmarked by a BIS-recognised centre. The hallmark shows the BIS logo, the purity (for example 22K916) and the HUID code, which you can check in the BIS Care app.
When demand peaks
Demand rises around the wedding season and festivals such as Akshaya Tritiya and Dhanteras, and in states like Kerala and Tamil Nadu where gold jewellery is central to weddings.
Follow live gold rates in India and cities such as Mumbai, Delhi and Kerala.
Rates are indicative and for information only — not financial advice. Confirm prices with your jeweller before buying or selling.
