4% tax on gold likely under GST: Revenue Secretary

Last Updated: Thu, Oct 20, 2016 10:35 hrs
India's Finance and DM Jaitley arrives to attend a meeting with the finance ministers of Indian states on GST issues in New Delhi

New Delhi: The government has proposed a 4% tax on gold under the proposed goods and services tax (GST), Revenue Secretary Hasmukh Adhia told reporters on Wednesday.

GST would harmonize a slew of state and federal levies into a national sales tax.

Earlier, Finance Minister Arun Jaitley said he was confident about rolling out GST from next April even after a meeting between him and state finance ministers failed to break a deadlock on rates.

The three-day meet in New Delhi between union and state finance officials to set the bands for the new sales tax and pave the way for its introduction will conclude on Thursday.

Jaitley said the officials would meet again in early November to finalise the tax rates.

Gold rate in india



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