Key Points
While deciding which gold jewellery to buy, apart from the price of gold, the making charges also play an important role..
Making charges, or also known as 'wastages', are added to the final cost of the jewellery before Goods and Services Tax (GST) at the rate of 3 per cent is levied...
Usually, gold jewellers charge making charges either at a flat rate per gram or as a percentage of the cost of gold jewellery..
However, as gold prices are volatile currently, buyers should be aware that different methods of levying making charges can lead to a substantial difference in the overall cost of jewellery being bought...
The point being made here is that a buyer should be aware that the percentage-based jewellery making charges increase hugely with a sharp jump in the price of gold...
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