New Delhi, Sept. 4 -- The GST Council has rationalised tax rates for a range of goods, moving toward reducing the four-slab structure to just two. Several items earlier taxed at 12% and 28% have now been shifted into the 5% and 18% slabs.

This raises a question: does that mean gold and silver, currently charged 3% goods and services (GST), will also move up to 5% in line with the new two-slab structure?

Experts say no.

"Under the GST framework, most goods so far were taxed at standard slabs of 5%, 12%, 18% or 28%. However, gold, silver and other precious metals fall into a special category with a much lower GST rate of 3%. This slab has not been touched in the recent reforms," said Mayank Mohanka, founder, TaxAaram India, and a partner...