Updated for 2026 GST rules
Gold Price CalculatorJewellery Price with Making Charges, Wastage & GST
Work out the real price of any gold jewellery before you reach the counter. Enter today's gold rate, the weight and purity, then add making charges and wastage. This gold price calculator shows the final bill with GST, the true cost per gram, and lets you compare two jewellers or value your old gold for exchange.
- 6 BIS purities
- 4 weight units incl. sovereign & tola
- 2 GST methods
- 3 tools in one
1Gold rate
Sample rate shown. Replace it with today's rate from your jeweller.
2Jewellery
3Charges
Enter each jeweller's quote for the same piece. Use the rate per gram they quote for this purity.
AJeweller A
BJeweller B
Ask the jeweller to test purity in front of you. An XRF reading gives the exact gold percentage.
How gold jewellery price is calculated
Every jeweller in India builds the bill from the same parts. First comes the metal value, which is the weight multiplied by the rate for that purity. Next, the jeweller adds wastage or value addition, making charges and any stone value. Finally, GST is applied, and a hallmarking fee may be added.
Final price = (Weight × Rate for purity) + Wastage + Making charges + Stones + GST + Hallmark feeWorked example: 10 g, 22K gold chain
| Step | Calculation | Amount |
|---|---|---|
| 22K rate | ₹12,000 (24K) × 0.916 | ₹10,992 / g |
| Gold value | 10 g × ₹10,992 | ₹1,09,920 |
| Making charges | 10% of gold value | ₹10,992 |
| GST | 3% of ₹1,20,912 | ₹3,627.36 |
| Final price | Sum of the above | ₹1,24,539.36 |
The 24K rate here is a sample. With the split method (3% on gold, 5% on making), GST becomes ₹3,847.20 and the bill rises by ₹219.84.
GST on gold jewellery: 3% or 5%?
Online calculators disagree here, so this tool lets you choose. The gold itself always carries 3% GST. The difference lies in how making charges are taxed, which depends on how the jeweller bills them.
3% on the full bill
When you buy finished jewellery, the making charges are part of the same sale. As a result, most retail invoices apply 3% GST to the gold value plus making charges.
3% on gold, 5% on making
When making is billed as a separate job-work service, for example when a goldsmith works on your own gold, those charges attract 5% GST. Check your tax invoice to see which method was used.
Gold purity chart: 24K, 22K, 18K and more
Purity decides how much of the piece is actually gold. BIS hallmarking marks each piece with its fineness grade and a six-digit HUID code, so you can match the bill to the stamp.
| Karat | Hallmark grade | Gold content | Rate factor vs 24K | Typical use |
|---|---|---|---|---|
| 24K | 999 | 99.9% | 1.000 | Coins, bars, investment |
| 23K | 958 | 95.8% | 0.958 | Traditional jewellery |
| 22K | 916 | 91.6% | 0.916 | Most Indian jewellery |
| 20K | 833 | 83.3% | 0.833 | Lighter traditional pieces |
| 18K | 750 | 75.0% | 0.750 | Diamond and studded jewellery |
| 14K | 585 | 58.5% | 0.585 | Everyday and lightweight designs |
Gold weight units
| Unit | In grams | Where it is used |
|---|---|---|
| 1 sovereign (pavan) | 8 g | Tamil Nadu, Kerala |
| 1 tola | 11.6638 g | North India, Gulf countries |
| 1 troy ounce | 31.1035 g | International gold prices |
| 10 grams | 10 g | Standard unit for 24K rate quotes in India |
More than a basic gold rate calculator
Most gold calculators stop at weight times rate plus 3%. This one models how jewellers actually bill, so the number you see matches the number on the invoice.
Every billing style
Making charges as a percentage, per gram or flat, plus wastage, stones and the hallmark fee.
Both GST methods
Switch between 3% on the full bill and 3% plus 5% on making to match your invoice.
Visual cost breakdown
A stacked bar shows how much of the bill is gold and how much is making, wastage and tax.
Two-shop comparison
Put two quotes side by side and see which jeweller is cheaper, and by how much.
Old gold exchange
Value your old jewellery by tested purity and see the balance left to pay on a new piece.
Sovereign and tola
Enter weight in grams, pavan, tola or troy ounces, and rates per gram, 10 g, sovereign or tola.
How to use the gold price calculator
Add today's rate
Enter the rate your jeweller displays and say whether it is the 24K rate or the rate for your purity.
Enter the piece
Type the weight from the tag and pick the purity stamped on the hallmark.
Add the charges
Fill in making charges, wastage and any stone value exactly as the jeweller quotes them.
Read the bill
Check the final price, the true cost per gram and the breakdown, then copy it to compare later.
Benefits and smart buying tips
Spot hidden charges
See the full cost per gram, not just the headline rate, so wastage and making cannot hide in the total.
Negotiate making charges
Making charges are often negotiable, especially on machine-made chains and during festive offers.
Check the hallmark
Match the purity and HUID on the piece with the bill. Unhallmarked jewellery is hard to resell at a fair price.
Know your exchange value
Old gold is valued on pure gold content, so test purity before you accept an offer.
Ask for a tax invoice
A proper GST invoice lists weight, purity, making charges and tax separately, which helps with resale and tax records.
Plan the purchase
Saving for a wedding or festival? Use the SIP calculator or RD calculator to build the amount.
Gold price calculator FAQs
How is the price of gold jewellery calculated?
Multiply the weight in grams by the gold rate for that purity, then add wastage, making charges and any stone value. GST is added on top, usually 3% of the total, and a small hallmarking fee may also apply.
What is the GST on gold jewellery in India?
Gold carries 3% GST. When you buy finished jewellery, most jewellers charge 3% on the gold value plus making charges. When making is billed separately as job work, those charges attract 5% GST instead. Your tax invoice shows which method applies.
How do I calculate the 22K gold price from the 24K rate?
Multiply the 24K rate by 0.916, because 22K gold is 91.6% pure. For example, a 24K rate of 12,000 rupees per gram gives a 22K value of about 10,992 rupees per gram. Many jewellers display a separate 22K rate, which you can enter directly.
What is the difference between making charges and wastage?
Making charges pay for design and labour. Wastage, also called value addition, covers gold lost while cutting, soldering and polishing. Some jewellers quote only one of them, so compare the total cost per gram rather than either charge alone.
How many grams are in 1 sovereign and 1 tola?
One sovereign, also called a pavan, is 8 grams and is common in Tamil Nadu and Kerala. One tola is 11.6638 grams and is used in North India and the Gulf.
How is old gold exchange value calculated?
Jewellers multiply the weight by the tested purity and the current 24K rate, then deduct a small percentage for melting loss. Making charges and GST paid earlier are not refunded, which is why exchange value is lower than the original bill.
Why do two jewellers quote different prices for the same weight?
Rates, making charges and wastage differ from shop to shop, and some add stone or hallmark fees. Use the Compare shops tab to enter both quotes and see the exact difference.
Is the hallmark charge extra?
BIS hallmarking with a six-digit HUID is mandatory for most gold jewellery sold in India. The fee is small and charged per piece; some jewellers absorb it, while others add it to the bill.
Know the real price before you buy gold
A few rupees per gram adds up fast on a necklace or a wedding set. Use this gold price calculator at home or in the showroom to check every quote, compare jewellers and get a fair exchange value for your old gold.