Hi friends ,
Need the rate of GST on gold biscuits.
Does Gold biscuits also levieable for GST @ 3%
10 Replies
sanjith kotni
(Articled assistant)
(663 Points)
Replied 20 December 2019
Yeah .Is it there even on BISCUITS
SOWJANYA M
(840 Points)
Replied 20 December 2019
Biscuit is that the form or texture for pure gold ryt?
sanjith kotni
(Articled assistant)
(663 Points)
Replied 20 December 2019
Ok .When we sell bisuits to jewellery shop against buying jewellery. Again will they give us credit the price inclusive of taxes or excluding taxes paid earlier??
SOWJANYA M
(840 Points)
Replied 20 December 2019
Pls elaborate ur query
you are purchasing jewellery and adjusting the payment against bullion?
is the bullion sold by GST registered person?
you are purchasing jewellery and adjusting the payment against bullion?
is the bullion sold by GST registered person?
sanjith kotni
(Articled assistant)
(663 Points)
Replied 20 December 2019
No we r planning to invest in billions .So I am thinking that GST will be charged on it .And , while I sell it at the time of purchase of jewellery ,will they give me the credit for full matlrket price of bullion including GST or excluding GST ??
SOWJANYA M
(840 Points)
Replied 20 December 2019
You would have claimed ITC on bullion already
now, when u r purchasing jewellery the seller will raise invoice against jewellery only. the seller will deduct the market value of your bullion against jewellery payment
now, when u r purchasing jewellery the seller will raise invoice against jewellery only. the seller will deduct the market value of your bullion against jewellery payment
SOWJANYA M
(840 Points)
Replied 20 December 2019
@ sanjith
No we r planning to invest in billions .So I am thinking that GST will be charged on it .And , while I sell it at the time of purchase of jewellery ,will they give me the credit for full matlrket price of bullion including GST or excluding GST ??
EXCLUDING GST
No we r planning to invest in billions .So I am thinking that GST will be charged on it .And , while I sell it at the time of purchase of jewellery ,will they give me the credit for full matlrket price of bullion including GST or excluding GST ??
EXCLUDING GST
sanjith kotni
(Articled assistant)
(663 Points)
Replied 20 December 2019
Thank you...then it's waste of investing in bullion as an individual cannot take itc
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