hi. I want to know how to account jewellery sales and making charges, HSN code for Jewellery ,rates,
if any videos for practicing please share .
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GST for Jewellery
Replies (4)
This a case of composite supply where rate of tax will depend on supply of predominant product or supply. In this case gold is supplied as predominant item and making charges is naturally bundled. So gst rate for making charges will be the rate of gold.
GST rate on gold jewellery is 3%.(in case of regular dealer)
Final price of the jewellery = Price of (22 KT or 18 KT) gold X (Weight in grams) + Making charges + GST at 3% on (Price of jewellery + making charges).
GST rate on gold jewellery is 3%.(in case of regular dealer)
Final price of the jewellery = Price of (22 KT or 18 KT) gold X (Weight in grams) + Making charges + GST at 3% on (Price of jewellery + making charges).
thank you, and what is rate for making charges, SAC code
You you add making charges with gold then it will be 3% gst as a composite supply.
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