Example rate. Enter today’s 24K rate from your jeweller or IBJA; rates for other carats are worked out automatically.
Old gold exchange (optional)
Total price (with GST)
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Check the jeweller’s bill
Fill in the correct weight, carat and rate above, then enter the bill total. The tool will tell you the making charge you were actually charged.
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Price at different making charges
| Making charge | Making | GST | Total price | Effective rate / gram |
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How gold jewellery is priced
Price = gold value + making charge (+ wastage) + stones + hallmark, plus 3% GST on top. Gold value = weight × the rate for that carat. The 22 carat rate is 91.6% of the 24 carat rate; 18 carat is 75%.
- Making charges usually range from 8% to 25%: lower for light machine-made jewellery, higher for handcrafted and antique designs. This is where there’s the most room to bargain.
- GST: when you buy jewellery from a shop, 3% GST applies to gold, making and stones. If you give your own gold and only pay for making it (job work), 5% GST applies to the making charge.
- Hallmark: every piece should carry a BIS hallmark and a 6-character HUID code. You can verify purity by entering the HUID in the BIS Care app.
- Old gold: the jeweller melts old gold to test its purity and usually deducts 2–10%. In an exchange, make sure the bill shows the old gold’s weight, purity and rate.
This is an estimate. Every jeweller calculates making, wastage and billing differently. Get a written quote before you buy.