Gst on jewellery sales
manmohan baheti (student) (112 Points)
26 February 2023manmohan baheti (student) (112 Points)
26 February 2023
CA Mayank A Jain
(Chartered Accountant in Practice)
(1260 Points)
Replied 27 February 2023
Receipt of bullion as consideration could be treated as a supply for the other party provided he is a registered dealer or if he is liable to get registered.
For you, the receipt of bullion is a non monetary consideration and you have to value your jewellery sold at open market value in terms of rule 27 of the CGST rules.