What is the rate of GST on jewellery making charges ?

Soumya Laha (Advocate & Tax Consultant) (4698 Points)

22 April 2021

What is the GST rate on jewellery making charges (SAC 998892) ?

Can a Goldsmith (who makes jewellery but doesn't sell) opt for composition scheme ? if yes, then what will be the GST rate ?

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7 Replies

Shailander Jain (Proprieotr) (30 Points)
Replied 22 April 2021

18 %. yes opt for composition scheme.then gst rate is 6%

Ankit Neema (2742 Points)
Replied 22 April 2021

18%in regular scheme

1 Like

Soumya Laha (Advocate & Tax Consultant) (4698 Points)
Replied 22 April 2021

Is there any option to claim ITC for Goldsmiths (Jewellery makers, not sellers) ? If yes, then from which items they can claim ITC ?

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 22 April 2021

GST RATE ON SAC CODE - 998892 IS 18%
Yes composition scheme can be opted

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Soumya Laha (Advocate & Tax Consultant) (4698 Points)
Replied 22 April 2021

But in case of job work of registered customers, the GST rate is 5%. Am I right?

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 22 April 2021

Yes you are right

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Soumya Laha (Advocate & Tax Consultant) (4698 Points)
Replied 22 April 2021

Also tell me, can a Goldsmith (Jewellery maker, not seller) claim ITC in regular scheme? If yes, then on which items ITC should be claimed?

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