Exchange of Jewellery

Any thing against is called barter exchange..........

Barter is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money.

So, the value of the barter exchange is to be taken into account for GST taxability!!

There is press release on the concerned matter which states that there will be no gst on the old gold given under reverse charge mechanism as the same is not for business or furtherance of business purpose of individual.

banks and nbfc are only custodian of old gold jewellery. .so the are not allowed to trade in it..they can auction on as is where is basis ...only..and make bidders bill as old gold jewellery. no gst must be charged....as custodians are not allowed to trade in sale or buying of old gold jewellery by RBI rules n regulations .if they charge any gst they will have to payback the gst to their clients with penalty and interest by law.