Best Money Gold Jewellery Limited ., In re
Date: March 1, 2023
Subject Matter
GST cannot be paid solely on the difference between the selling price and purchase price of second-hand gold jewellery
Summary
This is a ruling regarding the determination of the value of supply for second-hand/used jewellery. The applicant purchases such jewellery from customers and sells it to other customers after minor processing. The question is whether the value of sup…
FULL TEXT OF THE ORDER OF AUTHORITY FOR ADVANCE RULING, KERALA 1. M/s. Best Money Gold Jewellery Limited, Thiruvananthapuram (hereinafter referred to as ‘The applicant’) is engaged in the business of buying and selling old/used/second-hand gold jewellery/ornament from unregistered persons. 2. At the outset, it is clarified that the provisions of the Central Goods and Services Tax…