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Second Hand Gold Jewellery Purchased From Unregistered Person Can be Valued as per Margin Scheme :GST

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IN RE : KAR-ADRG-15-2020 DTD 23.03.2020

Where applicant is in business of sale of used (second hand goods) gold jewellery, it is held that valuation of second hand gold jewellery which are purchased from individuals who are not registered under GST and there is no change in form and nature of such goods can be made as prescribed under rule 32(5) of CGST Rules and in case applicant purchases second hand jewellery from registered person, applicant is eligible to claim input tax credit on such inward supplies but he would not be eligible for margin scheme of valuation as prescribed in rule 32(5) for outward supplies of such second hand jewellery.


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