Gold is cheap. After the reduction in custom duty, the price of gold has fallen by about Rs 6000 per 10 grams. Due to this sudden reduction in gold, people are in a mood to invest. Jewelers also believe that inquiries about the price of gold have increased in the last two weeks. If you are also planning to buy gold, then keep one thing in mind.
In fact, most people still avoid buying digital gold. People prefer to buy physical jewellery. In our country, gold is seen as an investment option. In such a situation, most people make a mistake and later have to regret it. If you are buying gold jewellery for investment, then it can prove to be a loss-making deal.
Let us tell you, women focus more on buying jewellery. But they are not aware of the harm caused by it and the jeweller never tells any customer about it. The jeweller always advises the customers to buy jewellery for his own benefit.
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Customers in trouble due to making charge
While buying jewellery, customers have to pay for three things. First- the price of the jewellery (according to the weight), second- making charge and third- GST (3%). Whether you pay for the jewellery online or offline, you have to pay only 3% GST on it.
But if you also buy jewellery as an investment then change your decision now. It will be beneficial for you to buy gold coins or gold biscuits. Gold coins are available in 1 gram as well. You will get more returns from coins in future as compared to jewellery.
Actually, when you buy jewellery and you have to pay making charges, usually the jeweller adds 15 to 20 per cent making charges. In designer jewellery, this making charge is 25 to 30 per cent. Now imagine if you buy jewellery worth Rs 1 lakh and the making charge is Rs 15 to 20 thousand.
There are many disadvantages of buying jewelry
Apart from this, if there is a stone in that jewellery, then its weight is also associated with gold, that is, when you go to sell that jewellery, you will not get any return of the stone. Because whenever you want to sell or exchange that jewellery, at that time only the price of gold will be charged, that is, the money you have paid for the making charge will go down the drain. Now you think how big a loss is incurred by buying jewellery, that is, on buying jewellery, the customer is sure to incur a loss of 15 to 20 percent.
Now what is the solution for this? If you want to buy gold and keep it at home, then buy gold coins, because you do not have to pay any making charge while buying it. You will have to pay only 3 percent GST, which means there is no problem of deducting the making charge while selling. Whenever you go to sell gold coins or gold biscuits, you will get the full money. Then why incur a loss by buying jewellery.
If you want to buy jewellery, then keep these things in mind. Because often jewellers add many types of charges in the bill to mislead the customers and due to lack of information the customer is unable to say anything. Some jewellers charge some extra money in the name of polish weight or labour charge, which is against the rules. You should not pay this at all and can also complain against the jeweller.
Buy jewellery like this at the right rate
You should know that jewellery is not made of 24 carat gold. Most of the jewellery available in the market is of 22 carat and 18 carat. Therefore, while buying, keep in mind what is the price of gold in the bullion market on that day? So that you will be able to buy jewellery at the right rate.
The most important thing is to negotiate the making charges of the jewellery. Most jewellers reduce the making charges after negotiation. Because up to 30% making charge is taken on jewellery. Jewellers get the most profit from the making charge.
Always take the original bill. So that in future when you go to sell that jewellery anywhere, there is no problem regarding its purity and weight. As far as purity is concerned, buy only hallmark jewellery.
Source (PTI) (NDTV) (HINDUSTANTIMES)