Whenever we sell our gold to goldsmith , he deduct 3 % from its value ..
On what basis he deduct it ? Is it statutarily required ????
Rohit C. Bankar (Article Assistant) (29 Points)
07 December 2011Whenever we sell our gold to goldsmith , he deduct 3 % from its value ..
On what basis he deduct it ? Is it statutarily required ????
amit agarwal
(dept head)
(137 Points)
Replied 07 December 2011
as per my knowledge it is just a standard industrial practice nd not a statutory requirement
Rohit C. Bankar
(Article Assistant)
(29 Points)
Replied 07 December 2011
CA LALIT WADHWA
(FRESHER)
(105 Points)
Replied 07 December 2011
no it is nt a requirement...its a normal practice based on standard loss...
RoopesH SharmA
(ACCOUNTS EXECUTIVE)
(27 Points)
Replied 07 December 2011
As per my knowledge they deduct 3% from the value, during first purchase the gold includes the making charges (specially designing cost) but this deduction is not applicable on gold biscuits/bars
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