Old gold purchase
This query is : Resolved
14 October 2019
Am a jeweller and I have old gold purchased from different customers, so.. now, want to know if I sale this old gold to registered person in case to buy new gold by giving old gold, what is the situation now? Do I pay tax of 3percent ? And also let me know how to file these information ingst
14 October 2019
1 Yes pay 3 percent tax.
2 Show this sale as B2B sale.
2 Show this sale as B2B sale.
14 October 2019
What incase if I give that old gold purchased from different customers to Goldsmith for making that as a new gold jewellery.
14 October 2019
It's job work no GST payable on this.
14 October 2019
But I believe I would have to pay 5percent for job work done into finished goods ready to sale by RCM of Goldsmith is unregistered and. Am I right ?
14 October 2019
Not right it's for job work undertaken from customers.
14 October 2019
So u mean to say that the old gold purchased by me from different customers which I would remake into a new gold jewellery out of the old jewellery would not be charged in gst and it will be charged only if I sell that finished goods to customers . If I purchase gold bar and hand to Goldsmith for making a new jewel then 5% chargeable for making charges and when it comes to purchase of old gold from customers for making new jewellery , making charges not applicable (5%) am I take it this way? Am sorry to bother .please explain
14 October 2019
GST not applicable on old gold or gold bar sent for job work GST applicable on final sale to customer.
5% GST applicable only on job work directly under taken by gold smith.
5% GST applicable only on job work directly under taken by gold smith.
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