GST ON EXCHANGE

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NIRMAL DAVE (Querist)
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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

CA. Bhavik P. Chudasama

CA. Bhavik P. Chudasama (Expert)
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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

NIRMAL DAVE

NIRMAL DAVE (Querist)
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27 November 2023 Thank You Sir for your valuable advise.

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