Price, Charges & Tax
How Silver Price is Calculated in India
From dollars per ounce to rupees per kg.
Rates as on 29 September 2026 · Updated 29 September 2026
Today’s silver (Delhi)
₹2,40,000/kg
₹240 per gram, excl. GSTOverview
Domestic silver prices are derived from the global price, converted to rupees and grams, plus import duty and a dealer premium. Retail buyers pay 3% GST, and making charges on jewellery and articles.
| Particular | Details |
|---|---|
| 1 troy ounce | 31.1035 g |
| 1 kg | 32.15 troy ounces |
| Landed cost | (USD/oz × USD/INR × 32.15) × (1 + 6%) per kg |
| Retail | + premium + 3% GST |
Step by step
- Global priceSilver spot in USD/oz.
- Convert× 32.15 for a kilogram, × USD/INR for rupees.
- DutyAdd 6% (5% BCD + 1% AIDC).
- PremiumDealer / city premium.
- Purity× fineness ÷ 999 (925/999 for sterling).
- GSTAdd 3% on the sale value.
- MakingAdd per-gram or % making charges for articles.
Frequently asked questions
Why is MCX price different from the jeweller’s?
MCX is a futures price without GST and retail premium.
Silver rates are indicative market references (29 September 2026) and change during the day. Rules on tax, hallmarking and investment products can change — verify with official sources. FinancePortal does not sell silver.