Gst Gold Jewellery
Gold price declines Rs 10 to Rs 69,100, silver rises Rs 100 to Rs 79,100
In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 63,490, Rs 63,340, and Rs 64,290, respectively
 "Gold price declines Rs 10 to Rs 69,100, silver rises Rs 100 to Rs 79,100")
GST payable only on profit earned from resale of gold jewellery
Karnataka Authority for Advance Ruling has held that in case of resale of second-hand gold jewellery, jewellers have to pay GST only on the profit earned from such sale
 "GST payable only on profit earned from resale of gold jewellery")
Gold jewellers in a fix as confusion over GST levy continues
As the rollout deadline of the Goods and Services Tax (GST) is nearing, it has created the biggest ever confusion for its applicability regarding gold jewellery.A section of jewellers consider making charges as service charge and therefore, shown separately in the bill. Making charges, when considered as a service, under the definition, the applicable rate of GST would be at 18 per cent considering making charge as service charge as per the draft GST guidelines.Another section of jewellers, however, add making charges in value of jewellery and hence not shown separately but adding it to the price of gold. In this case, the applicable rate under the GST would be 2 per (assumed rate as government is yet to come out with rate for jewellery) cent on the accumulative value of the precious ornaments considering the government continues with the uniform rate on gold and jewellery under the GST."As per the international standard, bills must be made showing making charges separately. For ...
 "Gold jewellers in a fix as confusion over GST levy continues")
Jewellers rush to bring unaccounted gold on to books
Over 300 tonnes of jewellery made legitimate in last four months as GST deadline nears
 "Jewellers rush to bring unaccounted gold on to books")
