CCI Online Learning
What do you want to learn today?
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Old gold purchase

This query is : Resolved 

Am a jeweller and I have old gold purchased from different customers, so.. now, want to know if I sale this old gold to registered person in case to buy new gold by giving old gold, what is the situation now? Do I pay tax of 3percent ? And also let me know how to file these information ingst


1 Yes pay 3 percent tax.
2 Show this sale as B2B sale.

What incase if I give that old gold purchased from different customers to Goldsmith for making that as a new gold jewellery.

It's job work no GST payable on this.

But I believe I would have to pay 5percent for job work done into finished goods ready to sale by RCM of Goldsmith is unregistered and. Am I right ?

Not right it's for job work undertaken from customers.

So u mean to say that the old gold purchased by me from different customers which I would remake into a new gold jewellery out of the old jewellery would not be charged in gst and it will be charged only if I sell that finished goods to customers . If I purchase gold bar and hand to Goldsmith for making a new jewel then 5% chargeable for making charges and when it comes to purchase of old gold from customers for making new jewellery , making charges not applicable (5%) am I take it this way? Am sorry to bother .please explain

GST not applicable on old gold or gold bar sent for job work GST applicable on final sale to customer.
5% GST applicable only on job work directly under taken by gold smith.


You need to be the querist or approved CAclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :





Trending Tags
itr
gst portal
career
dgft
sebi
eway bill
students
rbi
cag
coronavirus
gst return
law
ca rankholder interview
csr
tds
unified portal
ca students
exams
tin nsdl
ca exams
icai
close
GST Live Class