How silver is priced in Sri Lanka
Silver in Sri Lanka is sold mostly as sterling (925) jewellery and silverware priced by the gram, while bullion is priced per ounce or per kilo from the international price. The figures here are spot converted to rupees, before VAT, making charges and dealer margins. Unlike gold, there is no widely reported daily silver rate from the Colombo market.
VAT
Jewellery sold in Sri Lanka, silver included, has carried the standard 18% VAT since 1 January 2024, when an earlier exemption was removed; the VAT exemption list in force since then does not include jewellery or precious metals. That puts a large tax on top of silver's metal value, so the price of a silver piece in a shop is far above the spot value shown here.
How silver is priced
Silversmiths and jewellers price silver from the world price converted to rupees, then add making charges, which on light silver pieces can be large relative to the metal. Handcrafted and traditional silverwork is sold on craftsmanship rather than weight. For metal value, weigh a piece and use the calculator with the 925 setting.
Purity
Sterling silver is 92.5% silver and is usually stamped 925. There is no compulsory hallmarking in Sri Lanka, but the National Gem and Jewellery Authority operates an assay service that can test purity.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.