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Buy GOLD below market rate - 10% Discount on Gold Coins at AJIO on ICICI Credit Cards

Do you still have to pay gst on the gold you get from swapping since taxes are already included in this gold coin purchase ?
Yes, what they do is:

If the total value of gold purchased is 100000 (including GST) and the gold I’m giving 24K coins value is 30000 (As per market Google rate only) they will deduct it. And I will pay 70000.
 
There was a deal last month where you were getting 5% upto 1000 off + 5%CB on SBI CB Card, that was a good deal. But now this offer is a loss making deal.
Right now there is a flat 5% off upto 3000 discount for cards on Flipkart. If I use hdfc millenia or sbi cashback, would I get cashback on top of it ?
 
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