RCM applicable on Gold Jewelry
Bhavin (accountant) (18 Points)
09 September 2019
please tell me RCM IS APPLICABLE ON GOLD JEWELRY
3 Replies
Arunodhayam Arumugam
(17 Points)
Replied 10 September 2019
Sale of old gold jewellery will not attract GST on exchange. However, if an unregd. supplier of gold ornaments sells it to a regd. supplier the tax will apply under RCM
Shivam RC
(Student)
(23683 Points)
Replied 10 September 2019
Currently it is not applicable.
It is not a notified Case u/s 9(3) of the CGST Act 2017. And also Section 9(4) of the CGST Act 2017 is now applicable only from purchase from Notified Person of Notified Goods. Gold is still not notified. Hence RCM not applicable.
It is not a notified Case u/s 9(3) of the CGST Act 2017. And also Section 9(4) of the CGST Act 2017 is now applicable only from purchase from Notified Person of Notified Goods. Gold is still not notified. Hence RCM not applicable.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 10 December 2019
No......no RCM is applicable on gold
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