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gst on gold
a company holding gold as investment in books and company is not in business of jwellery/gold - wether GST will attract on sale of gold
Replies (9)
No. Its a asset of investment nature.
but as per schedule 2 sec7 it is treated as business asset
Correct
then GST is applicable?
Yes
but since they are not in business of jewellery gold then how can it be a business asset ?
the assessee is company and hence all assets held are in nature of business asset as it cannot be personal
it can be in investment nature, company park their ideal money in gold instead of fd.
Its a debatable point. Investment cannot be considered as business asset.
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