GST on Jewellers
This query is : Resolved
23 June 2017
What will be the impact of GST on small jewellers dealing with end consumers? How not to end up paying more tax?
23 June 2017
Opt for composition scheme and pay 1% GST if your annual turnover is less than 75 lacs.
23 June 2017
it will depend upon the quantum of turnover. For small business.... composition is available
23 June 2017
Thank you Seetharamanji and amol ji, but where in composition scheme while purchasing gold also you need to pay @ 3% then even while selling also need to pay @ 1% totally it will be 3% right...
24 June 2017
you need to make the calculation whether opting for composition is better or taking ITC is better
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
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- Cash balance limit and property purchases limit
- NRI starting business in India
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- Journal entry of busniess expenses
- Bank details not Visible on Traces Portal
- Invertaded duty struture
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
