banner_ad

GST ON EXCHANGE

This query is : Open 
Profile Image

Profile Image

(Querist)
25 November 2023 Dear Experts,

A registered jeweler purchase old gold ornaments worth Rs. 50,000/- from his customer (Unregistered) and in exchange of that sale new gold ornaments worth Rs. 1,00,000/- to the same customer. Then on which value GST shall be collected on Rs. 50,000/- or on Rs. 1,00,000/- for this transaction.

Jeweler will receive only Rs. 50,000/- in cash/bank and the rest Rs. 50,000/- in form of old gold.

Thanking You
Nirmal Dave
Profile Image

CA. Bhavik P. Chudasama

Profile Image

CA. Bhavik P. Chudasama (Expert)
25 November 2023 GST will be applicable on Entire 1,00,000/- because Value of Supply for the Jeweller is Entire amount and Consideration is recevied in cash and in kind.

Things would have been different if Jeweller would supplied same ornaments with minor changes then it would have been qualified under Rule 32(5) and GST would have been applicable on Margin Amount
Profile Image

NIRMAL DAVE

Profile Image

NIRMAL DAVE (Querist)
27 November 2023 Thank You Sir for your valuable advise.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details