GST Rate on Gold & Silver laying in Stock on 1st Juy 2017

By | August 22, 2017
(Last Updated On: August 22, 2017)

Question 4: Gold and silver imported by banks/nominated agencies on consignment basis are lying in stock as on 1st July. Clarification is required on how to charge the customers in transition phase from VAT to GST. Will customers be liable
to pay GST rates?

Answer: GST is payable @ 3% with effect from 01.07.2017.

 

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About CA Satbir Singh

Chartered Accountant having 12+ years of Experience in Taxation , Finance and GST related matters and can be reached at Email : Taxheal@gmail.com

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