The clarification will provide relief to individuals selling old gold jewellery to jewellers and buying new ornaments from the consideration received. NEW DELHI: The sale of old gold by individuals for a consideration won’t attract the goods and services tax, the finance ministry clarified, providing respite to people who exchange jewellery. “Even though the sale of old gold by Read More →

Sales of old gold jewellery are unlikely to be affected by the three per cent Goods and Services Tax (GST) levied on re-materialisation of used articles made of the precious metal. Financial Services Secretary Hasmukh Adhia clarified on Wednesday that old gold jewellery would attract three per cent GST. However, jewellers say consumers needn’t worry as they would get input credit in the invoice made Read More →