Gold bonds on sale at 483 post offices
TNN | Updated: Nov 4, 2018, 14:19 IST
Representative imagePATNA: Altogether 483 post offices of Bihar will sell the sovereign gold bond (SGB) from November 5 to 9 on the occasion of Diwali.
A central government initiative, the SGB scheme offers investors an opportunity to buy government securities denominated in grams of gold with the issue price being Rs 3,146 per gram.
Bihar circle postmaster general Anil Kumar said on Saturday the SGB was like a Godsend for those wishing to buy gold on Dhanteras. The buyers do not have to worry about the storage of SGB as it is a substitute for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash, he said.
Other benefits of SGB include saving of GST and making charges. “Purchase of physical gold is taxed at 4% under the GST scheme,” Kumar pointed out.
The SGB scheme was launched in 2015 with an objective to reduce the demand for physical gold.
A central government initiative, the SGB scheme offers investors an opportunity to buy government securities denominated in grams of gold with the issue price being Rs 3,146 per gram.
Bihar circle postmaster general Anil Kumar said on Saturday the SGB was like a Godsend for those wishing to buy gold on Dhanteras. The buyers do not have to worry about the storage of SGB as it is a substitute for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash, he said.
Other benefits of SGB include saving of GST and making charges. “Purchase of physical gold is taxed at 4% under the GST scheme,” Kumar pointed out.
The SGB scheme was launched in 2015 with an objective to reduce the demand for physical gold.
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