Gst implication on an auction sale & scrap sale

karthikn raju (Student CA Final ) (45 Points)

21 June 2017  

I have a doubt.. my client runs mutual fund business. He lends loan to customers by acquiring jewels from them on pledge. Later in case of defaulters they are selling the pledged jewels as an auction sale. So in this case whether such auction sale attracts GST ? If yes what rate ?

Also I want to know GST implication on Scrap sales of P&M, Generators,Comp.Accessories, Weighing balance device, Old records.

Thanks in advance