gst on gold
This query is : Open
jitu parmar
(Querist)
10 July 2017
one of my clients is doing business of gold jewelry turn over is below 75000 can he apply for composition scheme under gst.and what is rateto be chatg
CA R SEETHARAMAN
(Expert)
10 July 2017
He can apply for composition scheme under gst. 1% gst applicable in case of trading and 2% gst in case of manufacturing.
CA Rashmi Gandhi
(Expert)
12 July 2017
Composition scheme is not advisable for Sarrafa dealers who purchase from unregistered dealer.
Because they have to purchase after paying @ 3% under RCM for which no credit available.
Also on sale they have to pay @ 1% on sales which would not be collected from customer .
So they have to pay 4% aggregate.
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