Old Jewellery purchased or Advance received from customers will it be liable for GST?

Jewelry industry specific question. 1)Old Jewellery purchased from customers will GST be paid on it. 2) Advance received from customers will it be liable for GST.

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2 Answer(s)

1. While buying old jewelry from customer GST to be paid & ITC will be allowed.

2. On receipts of Advance payment, you also have to pay GST.

Answered on June 15, 2017.
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GST will not applicable for such transactions that will make between customer and retailer. It will be treated as an unregistered purchase and if purchase tax provision will be in GST, then it will be charged with Purchase tax.

Answered on June 15, 2017.
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Your Answer

Gen GST