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GST payable only on profit earned from resale of gold jewellery IANS 19 July 2021   The ruling was made in reference to the application filed by Aadhya Gold Pvt Ltd seeking clarity whether goods and services tax (GST) is to be paid only on the difference between the selling price and purchase price as stipulated under Rule 32(5) of CGST Rules, 2017, if the applicant purchases used or second-hand gold jewellery from individuals and there is no change in the form or the nature of goods at the time of sale.   The AAR noted that the GST is payable only on the margin between the sale price and the buying price, as the applicant was not changing the form of the jewellery to bullion and then to new jewellery, but was only cleaning and polishing it without changing its nature and form.

Service taxKarnataka authority for advance rulingAadhya gold pvt ltdKarnataka authorityAdvance rulingCentral goodsService tax rulesசேவை வரிகர்நாடகா அதிகாரம்மைய பொருட்கள்சேவை வரி விதிகள்