• GST on gold loan
    Business

    How Does GST Impact the Cost of Your Gold Loan?

    Gold has long served as a symbol of wealth, security, and financial stability in many cultures worldwide, and India is certainly no exception. With gold being a prevalent asset among Indian households, leveraging its value — through means like gold loans — has become a commonplace practice. However, the financial implications of taking a gold loan have evolved significantly with the introduction of the Goods and Services Tax (GST). Understanding the impact of GST on gold loans is essential for those who wish to optimize their financial strategies. Understanding Gold Loans A gold loan is a secured loan where gold ornaments or coins are pledged as collateral. They are popular…