Sale of old jewellery will attract 3 per cent GST

[ahlam1399]

Sale of old jewellery will attract 3 per cent GST

The revenue secretary explained further that purchase of old jewellery by a jeweller will be chargeable at 3 per cent GST under the reverse charge mechanism. So, if old jewellery worth Rs 1 lakh is sold, 3 per cent GST or Rs 3,000 will be levied on the transaction.

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