I'm a owner of a gold shop...and want to clear my query ...about taking back gold from costumer ...how to calculate if " For example : 10 grms gold of 22 ct and rate for 22ct without gst is 3000 "
The sale of old jewellery by an individual to a jeweller will not attract the provisions of Section 9 (4) of the GST act and the jeweller will not be liable to pay tax under reverse charge mechanism on such purchases, .However, if an unregistered supplier of gold ornaments sells it to registered supplier, the tax will apply under reverse charge mechanism But that to also deferred to 30/09/2019, by vide Notification 22/2018