A GST registered partnership firm dealing in textiles wants to invest in silver.
can it take ITC on purchase of silver?
is firm liable to collect GST while selling the same?
can it save GST if it purchase silver ETF instead physical silver?
2 Replies
Kishor Lulla
(993 Points)
Replied 03 September 2022
Pur and sale of silver will be business. so can collect gst. can get ITC.
etf also taxable
etf also taxable
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 03 September 2022
If the purpose of investment is reselling , then you can claim ITC
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