How to buy PAX Gold in India and what the tax costs

Can you buy PAX Gold in India?

Yes. As of 12 October 2026, two large Indian exchanges run active PAXG/INR markets: CoinDCX and WazirX. We confirmed both through their own public APIs. PAX Gold (PAXG) is a token issued by Paxos Trust Company, N.A., and one PAXG represents one fine troy ounce of a London Good Delivery bar in LBMA vaults in London. So an Indian buyer gets a claim on London gold, priced in rupees, traded on a domestic crypto exchange.

The harder part is not access but treatment. In Indian tax law PAXG is a virtual digital asset (VDA), like bitcoin, and not gold. That brings a flat 30% tax on gains, 1% TDS on sales, and no way to offset losses. Gold ETFs and other SEBI-regulated gold products do not carry that burden. We think that comparison is the most important thing on this page, so we come back to it several times. For background on the token, start with what PAX Gold is.

The PAXG price in rupees: what the live widget shows

People search “pax gold price in India” and “1 pax gold in Indian rupees” more than almost anything else about the token here. The ticker at the top of this page answers that live. It takes the global PAXG market price and shows it in INR, so it tells you what one ounce of tokenized gold is worth internationally, in rupees, right now.

That is not always the price you will pay on an Indian exchange. PAXG/INR books on CoinDCX and WazirX are set by Indian buyers and sellers, and rupees cannot be swapped into the global market instantly. A dated snapshot shows the gap: on 12 October 2026, CoinGecko’s aggregate price was about ₹399,357 per PAXG, while CoinDCX’s last PAXG/INR trade was ₹420,005. The two figures were not captured at the same second, but a gap of roughly 4% to 5% is a real cost. Our live PAXG price page shows the USD price and the premium over spot gold, and the gold calculator converts PAXG into rupees, grams and tola.

FIU-IND registration and the legal position

India has no comprehensive crypto law. Crypto is neither banned nor regulated as a security, and neither SEBI nor the Reserve Bank of India licenses crypto exchanges. What does exist is anti-money-laundering supervision. Since the March 2023 notification under the Prevention of Money Laundering Act (PMLA), VDA service providers are “reporting entities” and must register with the Financial Intelligence Unit – India (FIU-IND). That includes offshore platforms that serve Indian users.

Secondary sources report 49 registered VDA service providers as of March 2025, 45 Indian and four offshore. CoinDCX and WazirX are reported as registered in those sources, but we did not verify individual entries on the FIU-IND site in this research pass. Check the list on fiuindia.gov.in before you deposit. Keep in mind what registration means: FIU-IND checks AML compliance. It does not approve the tokens listed, insure your balance or regulate the PAXG product itself.

Indian exchanges that list PAXG

Two exchanges carry the market for most buyers. CoinDCX lists PAXG/INR, PAXG/USDT and PAXG/BTC, and its INR market was active on 12 October 2026. WazirX lists PAXG/INR and PAXG/USDT, both in trading status on that date. WazirX suffered a hack in 2024 and went through a restructuring afterwards, which our review covers; factor that history into how much you keep on the platform.

Beyond those two, the picture thins out quickly. Giottus has a PAXG/INR market in its API, but the quotes we saw were a bid of ₹50,002 against an ask of ₹648,980, which means there is effectively no one to trade with. Mudrex shows PAXG/USDT on CoinGecko and an INR buy flow on its own page. ZebPay showed no PAXG on CoinGecko, and we could not confirm a listing elsewhere.

30% tax, 1% TDS and no loss set-off

This is general information, not tax advice. Under Section 115BBH of the Income-tax Act, gains on the transfer of a VDA are taxed at a flat 30% plus cess. The only deduction allowed is the cost of acquisition, so exchange fees and other expenses do not reduce the taxable gain. Losses on a VDA cannot be set off against other income or carried forward. Separately, Section 194S requires 1% TDS on the transfer consideration, which on an Indian exchange is withheld when you sell or swap.

Both rules remained in force after Budget 2026, which reportedly added a penalty for crypto-reporting failures and brought undisclosed VDAs into block assessments; confirm those points in the Finance Act 2026. Section numbers may also change under the new Income-tax Act 2025. The Income Tax Department is the place to check.

Now flip the example. If you sold the same PAXG for ₹90,000, you would still have ₹900 of TDS withheld, and the ₹10,000 loss could not reduce tax on any other income, this year or later. That asymmetry is why we call PAXG an expensive way to hold gold in India.

PAXG vs gold ETFs, Electronic Gold Receipts and SGBs

India is the world’s second-largest gold consumer. The World Gold Council puts 2025 demand at 710.9 tonnes, down 11% in volume while value rose 49%, with fourth-quarter investment demand at 96 tonnes, up 26%. The WGC expects 600 to 700 tonnes in 2026. Indians have many ways to hold that gold, and most of them are better regulated and better taxed than a token.

Sovereign Gold Bonds were long a favorite because the government paid interest on top of the gold price, but new issuance has been discontinued, so they are now only available second-hand. Physical gold costs 3% GST up front, plus making charges on jewelry. Gold ETFs and Electronic Gold Receipts are SEBI-regulated and settle through the stock market. For the global version of this comparison, see PAXG versus physical gold and ETFs.

PAXG in tola

Indian jewelers price gold per 10 grams or per tola, and one tola is 11.6638 grams. A troy ounce is 31.1035 grams, so one PAXG equals about 2.667 tola, and one tola equals 0.375 PAXG. Ten grams, the unit used in most Indian rate cards, is about 0.3215 PAXG. Note that PAXG represents fine gold; jewelry rates for 22-carat gold are for a lower purity, so compare against 24-carat rates. The calculator above handles the conversion with live rupee prices.

How Indian residents buy PAXG

1. Choose a registered exchange

   Pick CoinDCX or WazirX and confirm its entry on the FIU-IND list.

2. Complete KYC and add rupees

   Verify your identity with the exchange, then deposit INR through the methods it offers.

3. Check the INR premium

   Compare the PAXG/INR ask with the converted global price in the live ticker. A gap of several percent may be worth waiting out.

4. Buy with a limit order

   Place a limit order on PAXG/INR. Remember that TDS applies when you later sell.

5. Store and record

   Keep it on the exchange or withdraw on Ethereum after reading our wallet guide. Save every confirmation for your return.

Some Indians look at global exchanges for deeper PAXG/USDT books listed on our exchanges page. Be careful there: offshore platforms serving Indians are expected to register with FIU-IND too, and the tax applies regardless of where you trade. CEX.IO, which we mention elsewhere on this site, does not serve India at all. Indian residents should use FIU-IND-registered local exchanges.

Risks and SEBI’s digital gold warning

On 8 November 2025 SEBI warned investors that unregulated “digital gold” products sold through apps fall outside its purview and may carry risks. That warning was aimed at app-based gold savings schemes, not at PAXG specifically. But the logic carries over: PAXG is not a SEBI-regulated product either, and no Indian regulator stands behind your PAXG balance. The protection you have is Paxos’s own structure, with gold held for token holders and monthly KPMG attestations, which our gold backing guide explains.

Other risks are practical. Thin INR books can move sharply on one order. Indian exchanges have been hacked before, so do not keep more on any platform than you need for trading. Fake “PAXG” tokens exist on several chains, so verify the Ethereum contract on our networks page before you withdraw. And redemption into dollars or bars runs through Paxos, which requires a verified Paxos account and is subject to its own fees; see redemption and fees. Our safety guide and the country overview put these risks in a wider context.