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Sale of old jewellery by an individual to a jeweller will not attract the provisions of Section 9(4) of the CGST Act, 2017.
— Ministry of Finance (@FinMinIndia) July 13, 2017
Therefore, the jeweller will not be liable to pay any tax under reverse charge mechanism on such purchases.
— Ministry of Finance (@FinMinIndia) July 13, 2017
However, if an unregistered supplier of gold ornaments sells it to registered supplier, the tax under RCM will apply.
— Ministry of Finance (@FinMinIndia) July 13, 2017
Published on:
14 Jul 2017 08:48 pm
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