GST Input claim on Gold purchase

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This query is : Resolved

Quick Summary

If your NBFC company buys and sells gold as part of its business, you can generally claim GST input tax credit (ITC) on the purchase. This is only possible if the gold is treated as a taxable supply, you're GST registered, and all documentation is in order. However, if the gold is held purely for investment or non-business purposes, you won't be able to claim the ITC.

AG.AccountsDept

AG.AccountsDept (Querist)

12 April 2025 If a NBFC Company purchase Gold & sales the same. So Can we claim the said Input ?

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

12 April 2025 If the NBFC is trading gold (buying and selling as a business activity), it can claim ITC on the purchase, provided all GST conditions are met.
E.g.
The NBFC must be registered under GST and dealing in gold as a taxable supply.
The gold must be sold as a taxable supply.
Proper invoices and documentation must be maintained.
The ITC claim must be filed within the prescribed time limit.

If the gold is held as an investment or for non-business purposes, ITC cannot be claimed.

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

29 September 2025 Good luck..

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