Composition scheme for jewellers
This query is : Open
Vikas Sinha
(Querist)
01 October 2017
Many CAs are saying that Composition scheme is not for jewellers because they provide making service and others are saying that they can opt for Composition scheme. So please clarify that How to calculate GST for both regular and Composition scheme for jewellers.
CA Rashmi Gandhi
(Expert)
01 October 2017
In my opinion it is better to opt for composition
CA Rashmi Gandhi
(Expert)
01 October 2017
As earlier they have to pay @3% on old jewelry purchased from unregistered it is not suggested.
But after notification that no RCM applicable on old goods you can opt for composition.
Vikas Sinha
(Querist)
01 October 2017
but ma'am how to pay GST on jewellery , is it 1% on whole amount including making charges or 2% as he is manufacturer... please clarify
CA Rashmi Gandhi
(Expert)
01 October 2017
1% on overall
Vikas Sinha
(Querist)
01 October 2017
thank you ma'am but , when a jeweller pays some amount of making charges as job work charge to a karigar then if karigar is unregistered then he should charge 5% to karigar under RCM then how can he opt for composition scheme...:(
Message likes :
1 times
CA Rashmi Gandhi
(Expert)
01 October 2017
Yes if you are also doing making work & its portion is large then its better for you to opt regular scheme
Message likes :
2 times
Vikas Sinha
(Querist)
01 October 2017
Thank you So much ma'am....
Message likes :
1 times
CA Rashmi Gandhi
(Expert)
01 October 2017
Welcome.......
Message likes :
1 times
Vidya Jain
(Expert)
02 October 2017
In my opinion, Jeweller can not go fo composition scheme. It should opt for regular scheme only.
CA Mohit Kumar
(Expert)
02 October 2017
Mr. vikas, Composition scheme is only availble to restaurant service proovider... In jeweller case, Dealer also provide job work service to customer so composition benefit cannot be takencannot be taken.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Gst registered proprietorship firm
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on purchase of under construction property from a reseller
- Capitalgain tax purposes for valuation report compulsory
- Non filing of I T Returns
- SALARY CAN BE CAPITALIZE
- TDS on Fixed Assets purchased
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
