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Almost nobody in India gets cheated buying diamonds. What happens far more often is quieter and costs more: you pay a fair price for the wrong specification, or you pay for something invisible, or you sign a bill you never asked to have itemised.
None of that requires a dishonest jeweller. It just requires a buyer who did not know which questions to ask. So here they are.
Start here: ask for an itemised bill
This is the single most useful thing in this article. Before you agree to anything, ask for the price broken into four parts:
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Diamond value. What the stones cost.
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Gold value. Weight in grams times the rate, at the stated karat.
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Making charges. The labour and design component.
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GST.
A jeweller who breaks this out happily is one you can negotiate with sensibly. A jeweller who resists and insists on quoting one number is telling you something. You cannot compare two quotes, or spot what you are overpaying for, until you can see the parts.
Making charges: where most of the money quietly goes
Making charges are the least understood line on an Indian jewellery bill and the most variable. They are charged one of two ways:
As a percentage of gold value. Common, and it means your labour cost rises every time gold rates rise, even though the work has not changed.
As a flat rate per gram. More transparent, and usually better for you on heavier pieces.
Ask which method is being used, and ask for the number. Making charges are negotiable at most jewellers, particularly on higher-value purchases, and particularly if you are paying in full rather than through a scheme.
One thing worth knowing about festive season offers: a headline discount is very often applied to making charges alone, not to the gold or the diamonds. That is not deceptive, but "50% off" reads very differently once you know it applies to perhaps fifteen percent of the bill. Ask what exactly the discount covers.
Wastage charges
A legacy practice from handmade jewellery, where some gold was genuinely lost in the working. Modern manufacturing loses very little, but wastage charges still appear on some bills, sometimes as a percentage on top of making charges.
Ask directly whether wastage is being charged, at what percentage, and whether it is separate from making charges. If it is being charged on top of a full making charge, that is a fair thing to question.
GST: know the two rates
As of 2026 the structure is unchanged from 2017 and survived the September 2025 GST restructuring untouched:
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3% on the value of gold, regardless of purity. Same for 14K, 18K, 22K and 24K.
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5% on making charges.
These are two separate line items and should appear separately on a compliant invoice.
The thing to watch for: being charged 3% on the entire bill and then 5% on making charges again. That is double taxation on the labour component and it does happen. For ready-made showroom pieces, jewellers often treat the sale as a composite supply and charge 3% on the full value, which is accepted practice. What is not acceptable is both at once.
If you are exchanging old gold, GST applies only to the value addition, meaning the new gold and making charges, not to the old gold you handed over.
The 4Cs: where to spend and where to stop
This is where the biggest savings sit, and almost nobody uses them.
Cut is where your money should go. Cut determines how a stone handles light, and it is the only C you can see from across a room. An excellent cut stone at a lower colour grade will consistently outperform a poorly cut stone at a higher one. Spend here first.
Colour: stop at G or H. Once a diamond is set in gold and on a hand, the difference between a D and a G is essentially invisible to anyone who is not holding a master set under lab lighting. Paying for D to F colour is paying for a certificate, not for something you or anyone else will see.
Clarity: VS is the sweet spot. VS1 and VS2 stones are eye-clean, meaning no inclusions visible without magnification. VVS and flawless grades cost meaningfully more for a difference you need a loupe to find. SI can be eye-clean too, but it varies stone to stone, so look at that specific diamond before committing.
Carat: buy just under the round numbers. Diamond pricing jumps at the psychological weights, particularly 0.50, 1.00 and 2.00 carats. A 0.90 carat stone costs noticeably less than a 1.00 carat of identical quality, and the diameter difference is a fraction of a millimetre that no one will ever notice. This one trick saves more than any negotiation will.
Because lab-grown diamonds are real diamonds at a fraction of mined pricing, these choices matter differently than they used to. You are not scraping to reach a carat weight anymore, which means you can afford to be fussy about cut, which is exactly where fussiness pays.
Karat: gold is most of your bill
On most diamond jewellery, the gold costs more than the diamonds. So confirm before anything else whether you are being quoted 14K or 18K.
18K is about 75% pure gold and 14K about 58%. The price difference on the metal is real. Neither is better. 14K is harder and more scratch-resistant, which suits daily wear, while 18K carries a richer colour. What matters is that you know which one you are paying for, because a quote that does not specify is not a quote.
Verify the certificate yourself
A printed card is not a certificate. Every IGI certified or SGL certified stone carries a report number, and you can look that number up on the laboratory's own website in under a minute, on your phone, standing at the counter.
Do it. Check that the report matches the stone you are being shown on carat, colour, clarity and cut. On pieces with many stones, ask specifically what is certified. Accent stones going uncertified is normal across the industry, but your centre stone should never be.
Verify the hallmark too
Every gold piece in India should carry a BIS hallmark with a six-digit HUID. Enter it in the BIS Care app while you are in the store. It takes seconds and it confirms the purity you are paying for.
Ask what the buyback actually pays
Buyback policies vary more than any other term in Indian jewellery retail. Ask three questions:
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Is it cash buyback or exchange value only? These are usually different numbers.
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What percentage, and of what? Of the original invoice, or of current gold rate, or of the diamond value too?
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Is there a time limit or condition?
Get the policy page rather than a verbal figure. Every Ivana Jewels piece carries lifetime buyback and exchange along with a lifetime warranty, and the terms are published rather than quoted at the counter.
Red flags
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A jeweller who will not itemise the bill
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No BIS hallmark or HUID on the gold
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A certificate you are shown but not allowed to photograph or verify
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Wastage charged on top of a full making charge with no explanation
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A discount that turns out to apply only to making charges
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Pressure to decide today because the offer ends
Compare properly
When you are choosing between two quotes, put them side by side on the same four things: carat, colour, clarity and cut grade, then the gold karat and weight, then making charges, then buyback terms. Headline price tells you almost nothing on its own. Two rings at ₹80,000 can be very different objects.
And see it before you buy
We run home trials so you can look at pieces at home in ordinary light, which is where you will actually wear them. Showroom lighting is designed to make diamonds perform.
Ivana Jewels stores are in Delhi at Pitampura and Lajpat Nagar, plus Mumbai, Thane, Pune, Noida, Nagpur, Surat, Ahmedabad, Chandigarh at Mohali, Bangalore and Hyderabad. Book an appointment and bring this list of questions with you.
Browse rings , earrings , pendants and necklaces , or start with gifts below ₹30,000 if you are working to a budget. The ready to ship collection dispatches within 48 hours.
Frequently Asked Questions
What is the GST on diamond and gold jewellery in India in 2026?
GST is 3% on the value of gold, regardless of purity, and 5% on making charges. These are separate line items and should appear separately on the invoice. The rates were unchanged by the September 2025 GST restructuring. Watch for being charged 3% on the full bill and 5% on making charges again, since that is double taxation on the labour component.
How much are making charges on jewellery and can I negotiate them?
Making charges are either a percentage of the gold value or a flat rate per gram, and they vary widely between jewellers. Ask which method is being used and what the figure is. They are negotiable at most jewellers, particularly on higher-value purchases. Be aware that festive discounts are frequently applied to making charges alone rather than the whole bill.
Which of the 4Cs should I spend money on?
Cut, without question. It determines how the stone handles light and it is the only C visible from across a room. Save on colour by stopping at G or H, since the difference from D is invisible once a stone is set. Save on clarity by choosing VS1 or VS2, which are eye-clean without magnification.
Is it cheaper to buy a 0.90 carat diamond than a 1 carat?
Yes, and noticeably so. Diamond pricing jumps at the round weights, particularly 0.50, 1.00 and 2.00 carats. A 0.90 carat stone of identical quality costs meaningfully less than a 1.00 carat, and the diameter difference is a fraction of a millimetre that nobody will detect on a hand.
How do I check a diamond certificate is real?
Take the report number and look it up on the IGI or SGL website directly. You can do this on your phone at the counter in under a minute. Check that the report matches the stone on carat, colour, clarity and cut. A printed card by itself is not verification.
What should I ask about a buyback policy before buying?
Ask whether it is cash buyback or exchange value only, since those are usually different figures. Ask what percentage applies and what it is calculated on, the original invoice or the current gold rate. Ask whether there is any time limit or condition. Always request the written policy rather than accepting a number quoted verbally.
