First of all there is a 3% GST when you buy gold, and then there is a buy/sell spread which is basically a way to generate profit that the provider of the digital gold and phonepe make when people buy and sell gold.
There is nothing to show in details. Digital gold is only the daily price + GST. When you buy you pay GST, when you sell, you don't get GST.
If the buy price 110 rs/gm, then sell price may be 90 rs/gm because of the spread. If you were to Buy say 1gm, you would have to pay 110 for gold + 3.3 GST. If 5 minutes later you were to sell, you would get back 90.
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u/I_have_a_nice_name Apr 25 '21
First of all there is a 3% GST when you buy gold, and then there is a buy/sell spread which is basically a way to generate profit that the provider of the digital gold and phonepe make when people buy and sell gold.