Silver rate calculator: what a silver quote is made of
Silver is quoted per gram far more often than gold is, and the arithmetic is simpler — but two things still trip people up. The first is fineness: a 925 piece and a 999 bar are not the same metal at the same price, and shops quote the rate for the grade they actually sell. The second is that the making charge is a much larger share of a silver piece than of a gold one, because silver is cheaper, so comparing headline rates alone is misleading. This calculator keeps the metal, the workmanship and the 3% tax on separate lines, and turns a budget back into grams when you are buying rather than selling.
Frequently asked questions
How do I calculate the price of silver?
Multiply the silver rate per gram for the fineness you are buying by the net weight in grams. That gives the metal value. Add making charges for the workmanship, add any other charges and stones, then 3% GST on the total transaction value. For example, 100 g at ₹205 per gram is ₹20,500 of metal before anything else is added.
What is the silver rate today in India per gram?
The silver rate changes daily and differs by city and dealer. IBJA, the Indian Bullion and Jewellers Association, publishes the benchmark Silver 999 rate twice a trading day, quoted per kilogram and exclusive of GST and making charges — that is the link at the bottom of this calculator. This page deliberately does not show a live rate, because a stale number on a pricing page is worse than no number; enter the rate from your own board or bill, and it is remembered for next time.
What GST rate applies to silver in India?
Silver and silver jewellery attract 3% GST. On an intra-state sale that is 1.5% CGST and 1.5% SGST; on an inter-state sale it is a single 3% IGST. The GST Council's Gems & Jewellery sectoral FAQ confirms the rate applies to the total transaction value of the jewellery whether the making charge is shown separately or not, so this calculator taxes the full pre-tax total rather than the metal alone.
What is 925 silver and why is it the most common?
925 means the metal is 92.5% pure silver, the balance being copper added for hardness. It is the sterling standard and is what the overwhelming majority of Indian silver jewellery is made from, because pure silver is too soft to wear. 999 is fine silver used for bars and coins, 990 for coins and cutlery, and 800 for lighter jewellery.
Which HSN code do I use for silver on an invoice?
Use HSN 7106 for silver in unwrought or semi-manufactured form, which covers bars, bullion and coins, and 7113 for finished silver jewellery, with 7113 11 for jewellery of silver specifically. Other silver articles such as cutlery and utensils sit under 7116. Confirm the exact sub-heading for the product you are billing, because it depends on the form rather than the metal alone.
How much making charge is normal on silver jewellery?
Silver shops commonly quote between 8% and 25% of the silver value, which is a wider spread than gold because silver is a cheaper metal and the workmanship is a much larger share of the piece. Designs with heavy filigree or stone setting sit at the top of that range. Ask for the making charge to be stated separately from the metal value so two quotes can be compared fairly.
Does silver have a wastage charge like gold?
Rarely as a separate line. Gold shops quote wastage explicitly because the metal lost in melting and polishing is material against the price; silver shops usually absorb that loss into the making charge. This calculator leaves out a wastage input for that reason and adds a single making charge instead. If a dealer does quote wastage separately, enter it as an other charge so the total still reconciles.
How do I convert a 999 silver rate to 925?
Multiply the 999 rate by the ratio of the fineness grades, so a 999 rate of ₹221 per gram gives about ₹204.6 for 925 silver. The purity converter on this page does the arithmetic for all four grades and loads the result straight into the calculator. Shops normally quote the rate for the grade they sell rather than quoting 999 and converting, so enter the rate that matches the purity you picked if you have it.
How much silver can I buy for a fixed budget?
Switch the calculator to "How much silver" mode and enter your budget. It works backwards through making charges and 3% GST to return the net weight you actually receive, in grams and tola. This is the number to use when a shop quotes a fixed price for a design rather than a rate per gram, because a fixed price already contains whatever making charge the shop built in.
Is silver jewellery hallmarked in India?
Yes. Silver falls under the BIS Hallmarking Scheme, and IS 2112:2025 — the revised Indian Standard, in force since 1 September 2025 — carries seven purity grades: 800, 835, 925, 958, 970, 990 and 999. The hallmark uses the BIS mark with the word SILVER, the purity grade and a Hallmarking Unique Identification number. Check for it before buying, particularly on coins and bars where the premium over melt value is largest.
Still unsure about the rate or your situation?
If you are unsure which grade you are being quoted or how a dealer has built up a price, email rautprajwal36@gmail.com with the bill and we will help you read it line by line.