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Is jwellery business a manufacturing entity??

Atharv Sankliya (1354 Points)

13 February 2023

is jwellery business a manufacturing entity?? and does they need to prepare a manufacturing account??

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6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (174477 Points)
Replied 13 February 2023

Unless raw gold is purchased & converted to jewelry, it will be just trading.

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CA Rashmi Gandhi (Chartered Accountant) (86318 Points)
Replied 13 February 2023

Whether you are making jewellery or only buying and selling it ???

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CA Altamush Zafar (GST Consultant) (15966 Points)
Replied 13 February 2023

If you are purchasing raw material and then transforming it into Jewellery by yourself or through job work then you are manufacturer. Else if you are buying and selling jewellery as it is or after minor adjustments then it will be classified as trading with small elements of services.

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