Today the festival of Dhanteras is being celebrated all over the country. This festival falls two days before Diwali. Buying gold and silver on Dhanteras is considered auspicious. This is the reason why there is a bumper sale of gold and silver on Dhanteras. Apart from this, copper, brass, steel utensils and brooms are also purchased in large quantities. However, purchases are expected to decline this year due to record breaking prices of gold and silver. If you are planning to invest in gold and silver on Dhanteras, then here we will tell you which option would be best, jewelery or coins.
jewelery
On buying gold or silver jewellery, one has to pay heavy making charges along with 3 percent GST. Making charges vary depending on the design, item, weight, company and merchant of the jewelery and can range from 10 to 40 percent. Apart from this, you will have to pay additional 5 percent GST on making charges. Making charges add significantly to the total price of the jewellery. However, when you sell these jewellery, you not only lose the GST but also lose the considerable amount spent on making them.
coins
Talking about coins, you will have to pay 3 percent GST on gold and silver coins also. The making charge on coins can range from 3 to 11 percent depending on various factors. Additionally, you will also have to pay 5 percent GST on the making charges. Therefore, buying jewelery for investment purposes can prove to be quite expensive. However, by buying gold or silver coins you can save a lot on making charges as compared to buying jewellery.
