GST on Jewellers

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Pavan TM (Querist)
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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?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 June 2017 Opt for composition scheme and pay 1% GST if your annual turnover is less than 75 lacs.

Amol S Joglekar

Amol S Joglekar (Expert)
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23 June 2017 it will depend upon the quantum of turnover. For small business.... composition is available

Pavan TM

Pavan TM (Querist)
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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...

Amol S Joglekar

Amol S Joglekar (Expert)
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24 June 2017 you need to make the calculation whether opting for composition is better or taking ITC is better

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