“Why is this necklace priced higher than the gold rate × its weight?” It's the most common question at any jewellery counter. The answer is that the sticker price of a gold ornament is never just the metal — here's the exact formula, so you can check any quote yourself.
The formula
Final price = (gold rate × net weight) + making charges + ₹50 HUID + 3% GST
Step 1 — Metal value
Take today's rate for the piece's purity (e.g. 22K) and multiply by its net gold weight in grams. If a piece has stones, the net gold weight excludes the stone weight. Check the current gold rate in Rourkela for 22K, 24K and 18K.
Step 2 — Making charges
Added either as a fixed amount per gram or as a percentage of the metal value (typically 8–20%+, higher for intricate handwork). This is the craftsmanship cost — read how making charges work.
Step 3 — HUID + GST
- HUID: a fixed ₹50 for the mandatory hallmark ID.
- GST: 3% on the total, as per government rules.
A worked example
Say 22K gold is ₹6,000/g and you like an 10 g necklace with 12% making charges:
- Metal value = 6,000 × 10 = ₹60,000
- Making = 12% of 60,000 = ₹7,200
- HUID = ₹50; subtotal = ₹67,250
- GST 3% = ₹2,017 → Total ≈ ₹69,267
(Rate is illustrative — always use the live rate.) Skip the maths: our gold price calculator does this for any weight, purity and making rate instantly.