In the upcoming GST council meeting, there are speculations that the gold and other gemstones will be brought under the limitations of the GST eway bill. As per the sources, the government has taken this decision in order to curb the gold theft.
There are multiple sources and issues that arose in the recent past which have given a clear direction that the gold theft has been increasing day by day.
The union finance minister Nirmala Sitharaman has given a clear direction towards this process and is also worried of the gold theft. The corona pandemic and its subsequent lockdown has also made a great deal of pressure on the government revenues which further decided the course of gold GST eway bill 
The gold prices may also increase as an direct effect on the inclusion of gold in the GST eway bill process as the product will be levied extra taxes and this will further take the price on higher side.
As many states have agreed on this process and want to bring the gold under the GST eway bill. The Kerala state has been first to introduce the GST eway bill.
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There is GST eway bill applicable on the products amounting more than INR 50,000 and as same as this process, the gold can also be included in the eway bill bracket.
However, there are some contradictory issues in this decision, as the bullion association of India has said that the GST eway bill does consist all the information of the products inside and this may give unhealthy opportunity to the logistics and they may steal the gold while transporting.
Also, the bullion market has predicted that the gold market is mostly based on the cash and after the implementation of the GST eway bill people might shy away from the purchase of gold and further loss down the gold market.
Currently, there is 3% GST and 3 per cent penalty on the illegal smuggling of gold but this might as soon as possible as the government covers the gold under the GST eway bill.
