DINESH (Consultant) (31 Points)
17 August 2018If a register Gold Ornament Shop , purchasing old gold Ornament from Common Person ( un registered ) and providing eqivant mony , then where to put the amount in 3B. As per my knowledge this is not comming in reverse charge.
DINESH
(Consultant)
(31 Points)
Replied 06 September 2018
No sir , This will not come under Reverse charge
https://pib.nic.in/newsite/PrintRelease.aspx?relid=167405
Even though the sale of old gold by an individual is for a consideration, it cannot be said to be in the course or furtherance of his business (as selling old gold jewellery is not the business of the said individual), and hence does not qualify to be a supply
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