Gold Rate Calculator India

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Indian Gold Rate Calculator
Cost of Gold (Pure): ₹0.00
Making Charges (Wastage): ₹0.00
Taxable Amount: ₹0.00
GST (3%): ₹0.00
Final Price to Pay: ₹0.00

Understanding Gold Price Calculation in India

Buying gold in India is not just a financial transaction but a cultural tradition. However, the pricing structure can be confusing. The price quoted in newspapers or websites is usually for the raw metal, but the final bill at the jewellery showroom involves several additional components like Making Charges (Wastage) and GST. Our Gold Rate Calculator helps you estimate the final landing cost of your jewellery before you visit the store.

The Formula for Gold Calculation

To calculate the final price of gold jewellery in India, jewellers typically use the following logic:

Final Price = (Price of Gold × Weight) + Making Charges + GST (on Gold + Making Charges)

  • Gold Price: Usually quoted per 10 grams. If the rate is ₹60,000 per 10g, the rate per gram is ₹6,000.
  • Weight: The actual weight of the jewellery piece you are purchasing.
  • Making Charges (VA): Also known as Value Addition or Wastage. This covers the cost of craftsmanship. It varies from 3% for simple coins to 25%+ for intricate temple jewellery.
  • GST: Currently, the Goods and Services Tax (GST) on gold jewellery in India is fixed at 3% of the total value (Gold cost + Making charges).

What are Making Charges (Wastage)?

Making charges are the fees paid for the labor involved in creating the jewellery. In many parts of India, this is referred to as "Wastage" or "VA". It is calculated as a percentage of the gold value. For example, if you buy a chain weighing 20 grams and the making charge is 12%, you pay for 22.4 grams effectively, or pay a 12% surcharge on the value of the 20 grams.

22K vs 24K Gold

It is critical to input the correct rate in the calculator:

  • 24K Gold (99.9% Pure): Generally used for coins and bars. It is too soft for intricate jewellery.
  • 22K Gold (91.6% Pure): The standard for gold jewellery in India (BIS 916). When using this calculator for jewellery, ensure you enter the 22K rate per 10g.
  • 18K Gold (75% Pure): Often used for diamond-studded jewellery to hold the stones securely.

Why do Gold Rates Fluctuate?

Gold rates in India change daily based on international spot prices, the USD-INR exchange rate, and import duties levied by the Indian government. Since India imports almost all of its gold, a weaker Rupee usually leads to higher domestic gold prices.

Tips for Buying Gold

Always ensure you are buying BIS Hallmarked jewellery. Look for the 6-digit HUID code, the BIS logo, and the purity grade (e.g., 22K916) on the ornament. This guarantees that you are getting the purity you are paying for.

function calculateGoldPrice() { // 1. Get input values var ratePer10g = document.getElementById('goldRate10g').value; var weight = document.getElementById('purchasedWeight').value; var mcPercent = document.getElementById('makingCharges').value; var gstPercent = document.getElementById('gstRate').value; // 2. Validation if (ratePer10g === "" || weight === "" || mcPercent === "") { alert("Please fill in Gold Rate, Weight, and Making Charges."); return; } var rate = parseFloat(ratePer10g); var w = parseFloat(weight); var mc = parseFloat(mcPercent); var gst = parseFloat(gstPercent); if (rate < 0 || w < 0 || mc < 0) { alert("Values cannot be negative."); return; } // 3. Calculation Logic // Step A: Calculate price of the gold content // Rate is per 10g, so divide by 10 to get per gram var pricePerGram = rate / 10; var goldBaseCost = pricePerGram * w; // Step B: Calculate Making Charges Amount var makingChargesAmount = goldBaseCost * (mc / 100); // Step C: Taxable Value (Gold + Making Charges) var taxableValue = goldBaseCost + makingChargesAmount; // Step D: Calculate GST Amount var gstAmount = taxableValue * (gst / 100); // Step E: Final Total var finalTotal = taxableValue + gstAmount; // 4. Formatting function for Indian Currency var formatter = new Intl.NumberFormat('en-IN', { style: 'currency', currency: 'INR', minimumFractionDigits: 2 }); // 5. Update UI document.getElementById('resGoldCost').innerHTML = formatter.format(goldBaseCost); document.getElementById('resMakingCharges').innerHTML = formatter.format(makingChargesAmount); document.getElementById('resTaxable').innerHTML = formatter.format(taxableValue); document.getElementById('resGST').innerHTML = formatter.format(gstAmount); document.getElementById('resTotal').innerHTML = formatter.format(finalTotal); // Show result box document.getElementById('grcResult').style.display = 'block'; }

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