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GST Council Meeting September 2021: Key Issues To Be Discussed, What Analysts Expect, What To Look Out For

GST Council Meeting September 2021: Key Issues To Be Discussed, What Analysts Expect, What To Look Out For
ndtv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ndtv.com Daily Mail and Mail on Sunday newspapers.

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GST payable only on profit earned from resale of gold jewellery

GST payable only on profit earned from resale of gold jewellery
IANS
19 July 2021

The ruling was made in reference to the application filed by Aadhya Gold Pvt Ltd seeking clarity whether goods and services tax (GST) is to be paid only on the difference between the selling price and purchase price as stipulated under Rule 32(5) of CGST Rules, 2017, if the applicant purchases used or second-hand gold jewellery from individuals and there is no change in the form or the nature of goods at the time of sale.

The AAR noted that the GST is payable only on the margin between the sale price and the buying price, as the applicant was not changing the form of the jewellery to bullion and then to new jewellery, but was only cleaning and polishing it without changing its nature and form. ....

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Good news for jewellers! GST now payable only on profit earned from resale of gold jewellery

Good news for jewellers! GST now payable only on profit earned from resale of gold jewellery
india.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from india.com Daily Mail and Mail on Sunday newspapers.

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GST payable only on profit earned from resale of gold jewellery

GST payable only on profit earned from resale of gold jewellery
prokerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prokerala.com Daily Mail and Mail on Sunday newspapers.

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Supreme Court halts property seizure for GST dues

Supreme Court halts property seizure for GST dues
The ruling will come as a relief to small businesses that have been locked in disputes with revenue authorities over arbitrary reckoning of dues and precipitate action
The Supreme Court has ruled that revenue authorities cannot provisionally attach citizens’ property using “draconian” provisions of the Goods and Service Tax (GST) legislation except in extraordinary circumstances when there is a “dire necessity” to protect the revenue interests of the State.
The ruling handed down Tuesday by a bench comprising Justice D.Y. Chandrachud and M.R. Shah will come as a huge relief to small businesses that have been locked in disputes with revenue authorities over arbitrary reckoning of dues and precipitate action. ....

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