Silver Price

Silver Price Today in Gujarat

Silver Rate in Gujarat– 20 September, 2025

Silver /gSilver /kg
₹135₹1,35,000

DateSilver Price (₹/gram)
01-Feb-2588.282
02-Feb-2590.017
03-Feb-2590.715
04-Feb-2590.728
05-Feb-2589.812
06-Feb-2590.112
07-Feb-2588.805
08-Feb-2590.124
09-Feb-2590.039
10-Feb-2589.573
11-Feb-2590.495
12-Feb-2591.889
13-Feb-2591.435
14-Feb-2591.625
15-Feb-2590.537
16-Feb-2590.192
17-Feb-2588.921
18-Feb-2589.330
19-Feb-2587.802
20-Feb-2587.608
21-Feb-2587.608
22-Feb-2587.608
23-Feb-2587.608
24-Feb-2587.608
25-Feb-2587.608
26-Feb-2587.608
27-Feb-2587.608
28-Feb-2587.608
01-Mar-2587.608
02-Mar-2587.608
03-Mar-2587.608
04-Mar-2587.608
05-Mar-2587.608
06-Mar-2587.608

History of Silver in India

Silver has played a crucial role in India’s economy, culture, and investment landscape for centuries. Here’s an overview of its history:

1. Ancient and Medieval Periods

  • Silver was widely used in coinage during ancient Indian civilizations like the Maurya (322–185 BCE) and Gupta (319–550 CE) empires.
  • It was an important medium of exchange and stored wealth, particularly in trade with Rome and China.
  • During the Mughal period (16th–18th century), silver coins, such as the Rupee introduced by Sher Shah Suri, became the standard currency.

2. British Colonial Era (1757–1947)

  • The British introduced the Silver Standard, where the Indian Rupee was directly linked to silver.
  • However, as silver prices fluctuated in the global market, the Indian economy was affected.
  • By 1893, Britain moved India to the Gold Exchange Standard, reducing dependence on silver.

3. Post-Independence Period (1947–1990s)

  • Silver continued to be used for investment, jewelry, and industrial purposes.
  • However, the Indian government focused on gold reserves rather than silver.
  • Silver prices remained relatively low until the 1970s.

4. Liberalization and Globalization (1991–2010)

  • Economic reforms in 1991 led to greater demand for silver in India.
  • The rise of industrial applications (electronics, solar panels) increased global silver demand.
  • The silver price saw sharp fluctuations, especially during the 2008 financial crisis.

5. Recent Trends (2010–Present)

The introduction of digital silver investment platforms has made it easier for individuals to buy and sell silver.

Silver has gained popularity as an investment alternative to gold.

It is used in exchange-traded funds (ETFs), commodities trading, and bullion purchases.

Prices have been influenced by global factors like inflation, industrial demand, and geopolitical tensions.

Silver Taxation in India (2025)

In India, silver is taxed under the Goods and Services Tax (GST) system, along with other precious metals like gold and platinum. Here’s a breakdown of how silver is taxed:

1. GST on Silver

Transaction TypeGST Rate
Buying silver (bars, coins, jewelry)3% GST
Making charges on silver jewelry5% GST
Silver importsCustoms Duty + 3% GST
Exchange of old silver jewelry for newGST on making charges only
  • GST is applicable on the full value of silver at the time of purchase.
  • If you sell silver jewelry or bars to a jeweler, GST does not apply because it’s considered a second-hand sale. However, the jeweler will charge GST when reselling it.

2. Import Duty on Silver

India imports a large amount of silver, and the government imposes customs duty to regulate imports.

ComponentRate
Basic Customs Duty (BCD)10%
Agriculture Infrastructure & Development Cess (AIDC)5%
GST on imported silver3%

Total effective tax on imported silver is around 18-19%.

3. Income Tax on Silver Investments

If you sell silver (bars, coins, jewelry) and make a profit, it is subject to Capital Gains Tax (CGT):

Holding PeriodTax TypeRate
Short-term (held for ≤3 years)Added to income, taxed as per slab0% to 30% (as per income tax slab)
Long-term (held for >3 years)Long-term capital gains tax20% (with indexation benefit)

Example:

  • If you buy silver at ₹60,000 and sell at ₹80,000 after 4 years, the profit of ₹20,000 will be taxed at 20% with indexation.