GST Input claim on Gold purchase

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AG.AccountsDept

AG.AccountsDept (Querist)
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12 April 2025 If a NBFC Company purchase Gold & sales the same. So Can we claim the said Input ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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12 April 2025 If the NBFC is trading gold (buying and selling as a business activity), it can claim ITC on the purchase, provided all GST conditions are met.
E.g.
The NBFC must be registered under GST and dealing in gold as a taxable supply.
The gold must be sold as a taxable supply.
Proper invoices and documentation must be maintained.
The ITC claim must be filed within the prescribed time limit.

If the gold is held as an investment or for non-business purposes, ITC cannot be claimed.