Safe and Easy Gold Buying | Digital Precious Metal | Mydigigold

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Gold Purchase Process
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• Once the Customer Account has been activated,
  the Customer can initiate a Purchase Request on
  the Platform for the purchase of a designated
  quantity of gold. Such purchase of gold shall
  under no circumstance be lesser than the minimum
  quantity of 50 (fifty) milligrams or gold
  equivalent to a value of INR 250 (Indian Rupees
  Two Hundred and Fifty) whichever is lower, being
  24 carat gold of 995 purity. The aggregate
  purchase(s) made by a Customer on the Platform,
  in a day, shall not exceed an aggregate weight of
  200 (two hundred) grams and/or having an
  aggregate maximum value of INR 10,00,000 (Indian
  Rupees Ten Lakhs) for every transaction,
  whichever is higher. The Customer may at no time
  and under no circumstance, be permitted to hold
  in the Customer Account, an aggregate quantity of
  Customer Purchased Gold exceeding 10 (ten)
  kilograms in weight and/or having an aggregate
  value of INR 5,00,00,000 (Indian Rupees Five
  Crores) as may be applicable. In the event that
  the Customer holds an aggregate quantity of
  Customer Purchased Gold exceeding 10 (ten)
  kilograms and/or have Customer Purchased Gold
  exceeding an aggregating to INR 5,00,00,000
  (Indian Rupees Five Crores), the Customer would
  be required to realize the Customer Purchased
  Gold in the manner indicated under clause (H) (1)
  hereunder.
• The designated quantity of the Customer
  Purchased Gold would require to be purchased by
  the Customer on any Business Day during daily
  trading hours between 1000 am 1000 p.m.
  (Daily Trading Hours) or such other designated
  trading hours as may be indicated by SGL on the
  Platform.

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• The price at which the gold will be sold shall be
  displayed by SGL on the Platform (Gold Selling
  Price). The Gold Selling Price being a market
  linked value is subject to multiple market price
  fluctuations, in a single day. The Gold Selling
  Price displayed would be subject to market price
  conditions persisting at the time of the
  transaction. The Gold Selling Price displayed on
  the Platform at the time of the transaction shall
  be final, binding and would be determined in
  accordance with extant pricing guidelines and
  regulations. By continuing to use the Platform,
  the Customer agrees that, at no point or under no
  circumstance, would such Gold Selling Price be
  subject to any further challenge by the Customer.
  The Gold Selling Price displayed at the time of
  the transaction shall be considered as an
  invitation to offer to all the Customers, to
  purchase gold at the Gold Selling Price.
• Once the Customer has reviewed the Gold Selling
  Price, the Customer would be required to indicate
  the designated quantity of Customer Purchased
  Gold proposed to be purchased from the Platform.
  On receipt of the Purchase Request of the
  Customer, SGL will display the final updated Gold
  Selling Price to the Customer (which shall be
  subject to the market price fluctuations as may
  be applicable). The Customer, on receipt of the
  updated Gold Selling Price, would be required to
  confirm the final quantity of Customer Purchased
  Gold within such permitted time as may be
  indicated on the Platform. If the Customer fails
  to confirm the purchase of the Customer Purchased
  Gold for any reason whatsoever, the Customer
  would be required to place a fresh Purchase
  Request. In such cases, the Customer would be
  re-directed to the Purchase Request section of
  the Platform to place a fresh Purchase Request.
  The fresh Purchase Request (and the updated Gold
  Selling Price generated thereto) would be subject
  to market price fluctuations prevailing at the
  time of the generation of the Purchase Request.

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• The Gold Selling Price shall be excluding all
  applicable taxes. At the time of the sale, the
  Customer shall not get any GST benefit unless it
  is a registered GST customer. The Customer
  acknowledges that such taxes and GST paid at the
  time of the purchase of gold will not be
  reimbursed to the Customer in the event of Sale
  of Gold to SGL.
• On confirmation of the Purchase Request, the
  Customer would be provided with a GST sales
  invoice indicating the details of the Customer
  Purchased Gold purchased (GST Sales Invoice)
  indicating the complete payment amount that would
  require to be remitted by the Customer. On
  selecting the option to make a payment, the
  Customer shall make payment for the designated
  quantity of Customer Purchased Gold through an
  electronic payment gateway indicated on the
  Platform or through such other digital payment
  method as may be prescribed by on the Platform
  including payment by way of debit/credit card,
  internet banking, Unified Payments Interface
  (UPI).
• The Customer will not be able to modify or cancel
  a Purchase Request once (a) the Purchase Request
  has been confirmed (b) the payment has been
  made. However, any order by the Customer shall
  stand automatically cancelled and the purchase
  shall not be considered to be final, in the event
  the payment for the gold is not received by SGL
  for any reason whatsoever including but not
  limited to dispute or error raised by the
  designated payment gateway. The purchase of gold
  shall be considered complete only upon SGL
  receiving the payment for the gold (Purchase
  Completion). In view of the extant provisions of
  the Income Tax Act, 1961 (and rules thereunder),
  it should be noted that in each transaction where
  the aggregate value of the Customer Purchased
  Gold is equivalent to or exceeds INR 2,00,000
  (Indian Rupees Two Lakhs) the Customer would be
  required to provide its PAN details while
  processing the payment for an order on the
  Platform.

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• Further, the Customer Account shall be updated,
  on a real time basis, within 24 (twenty four)
  hours from the receipt of payment by SGL, to
  reflect the updated gold balance of the Customer
  (Account Balance).
• SGL reserves the right to cancel or reject any
  order placed by a Customer at its sole discretion
  for any reason whatsoever. In the event a
  Customers order is cancelled or rejected by SGL,
  any amount received from the Customer with
  respect to the said order, shall be refunded to
  the Customer, to the bank account provided by the
  Customer.
• Upon Purchase Completion, the risks, rights,
  title and interest in the Customer Purchased Gold
  (as defined hereinafter) shall stand transferred
  from SGL to the Customer. The amount received by
  SGL for an order shall at no point of time and
  under no circumstance be considered as an advance
  but shall be considered as consideration for
  purchase of the Customer Purchased Gold.

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