No GST on sale of old jewellery, cars by individuals

The Revenue Department on Thursday clarified that the sale of old jewellery as well as old vehicles by individuals will not attract any GST as the sale is not for furthering any business. "Purchase of old gold jewellery by a jeweller from a consumer will be subject to GST at the rate of 3 per cent under reverse charge mechanism in terms of the provisions contained in Section 9(4) of the Central GST Act, 2017", said Revenue Secretary Hasmukh Adhia.

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