Today's gold rates in Kerala

The Central Goods and Services Tax (GST) Act 2017 came into force on July 1, with an aim to bring a uniform tax scheme for the whole country. Let's take a look at the effect GST will have on gold.

Previously, the tax on gold was around 2 per cent in most states, comprising of 1 per cent of excise duty and 1 per cent of VAT. With the GST roll-out, the tax rises to 3 per cent. This 1 per cent increase is passed on to the customer, meaning there will be a slight increase in the price of gold.

But Kerala, the biggest gold consuming state, had a higher VAT of 5 per cent on gold earlier. So consumers in Kerala will benefit from GST as the tax will come down from 6 per cent to 3.

Check out the gold rates in Kerala for today here.

                             Standard Gold (22 K)                    Pure Gold (24 K)

• gold
• GST
• gold rate
• Kerala