There is no GST for fine precious metals in New Zealand. Gold with a fineness of not less than 99.5%, silver with a fineness of not less than 99.9% and platinum with a fineness of not less than 99% are exempt from GST. The GST is a tax on the taxable delivery of goods and services in Singapore and on the import of goods into Singapore (except for an exempt import). This means that the GST applies to all products that are brought to Singapore or purchased locally.
For those looking to invest in gold, a Gold IRA rollover guide can provide helpful information on how to make the most of this investment opportunity. As with all purchases, you'll have to pay a 7% GST for your ring.