Gst implication on an auction sale & scrap sale

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

 

Replies (2)
hello karthikin raju... banks and nbfc are only custodian of old gold jewellery. .so the are not allowed to trade in it..they can auction on as is where is basis ...only..and make bidders bill as old gold jewellery. no gst must be charged....as custodians are not allowed to trade in sale or buying of gold jewellery by RBI.if they charge they will have to payback the gst to their clients with penalty and interest by law.

hi everyone 

one of my client is govt entity excise department have seized motor vehicles. seized while these were using in smuggling activities now department is going to sale these vehicle through auction  what will be the GST implication on these activites

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