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Sajid (Auditor)     30 October 2011

Vat on gold

Now a days Gold prices are skyrocketing. The common people suffers the most. And the Govt also charging 1% VAT on Gold.

When we see in the General Markets, Govt is charging 5% and 14.5% VAT on most of the Essential Commodities.

Gold does not come under the Essential Commodities, but still Govt is charging only 1% of VAT on this. Why?

I like your comments on this issue, and how to Control the ever increasing the GOLD PRICES.

Please put forward your views and comments on this.


 1 Replies

SURESH GODBOLE (ADVOCATE)     31 October 2011

Increase in Gold price has cascading effect , it will effect many other prices too

If Govt chargs 12.5% it will effect Gold Import and also export which earns the Govt a lot in Foreign Exchange

the list can be manifold

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