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Jewellery Business
A Jewellery dealer Opt the composition scheme under GST.He purchase Oldgold from local peoples and remaking new ornament .The new ornament sales to locally.What types of TAX paid by the Jewellery dealer to Government.
Replies (13)
no need to opt for composition by jewellery dealer
2% of total turnover
because GST for jewellery is only 3%
@ g mahesh mundra
why not to opt compostion
why not to opt compostion
coming to the point of purchase if he purchases from local people without proper bill he can't opt for composition
because he sells the same with bill
for local purchases he can pay GST by RCM and claim as input ITC
so no need to opt out for composition be cause GST rate is on gold is only 3%
according to ques......such person takes old ornaments....as per act old ornaments are not liable to gst........as per ur point of view if proper bill is not present then for regular dealer then hw it is good
as per law no GST on old ornaments sold by individual to jeweller for consideration is correct but if the jeweller sold the same with bill it's necessary for him to have proper account
But sir composition dealer can't change gst from customers. Only he has to give 1% of total sales as gst
yes that's why I told go for regular here only 3% gst
thank you and congratulations
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