Launch of trade in Electronic Gold Receipt mired in GST tangle

More than two years after it was first announced by the market regulator SEBI, the proposed trading in the country’s first spot physical gold exchange product, Electronic Gold Receipt, remains a non-starter due to taxation issues. EGRs are like depository gold receipts traded on the stock exchanges and held in demat accounts, just like shares. In the Union Budget 2021-22, Finance Minister Ni…