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GO FOR GOLD IN DUBAI? Many believe that Gold is cheaper in Dubai, How true this popular perception is? Lets explore with an example of 10gram 22 carat gold. India in July 22 hiked the import duty on Raw gold materials to 15%. It also levies 3% GST on Gold value and 5% GST on the making charge. But average making charge is lower in India that is 7%. Whereas In Dubai, Gold price is lower because government levies no import duty which leads to the price difference between India and Dubai, at least
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