Valuation - purchase of used / second-hand gold jewellery or ...

Case Laws GST

July 13, 2023

Valuation - purchase of used / second-hand gold jewellery or ornaments - the term ‘second hand’ does not hold any meaning when it comes to items such as gold, land, currency etc. In order to qualify for inclusion under the valuation of supply as envisaged under sub-rule (5) of rule 32, it has to be proved that the applicant is dealing in second-hand goods. Unfortunately, gold in any form fails to pass the test of ‘second-hand goods’. - AAR

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Valuation - purchase of used / second-hand gold jewellery or ...

Case Laws GST

July 13, 2023

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