Govt. clarifies no GST levy on ornament sale by 'individual' to jeweller

Finance Ministry clarifies that there will be no GST levy on reverse charge basis (RCM) in the case of sale of old ornaments by an individual to a jeweller; However GST will be attracted under RCM if an unregistered supplier of gold ornaments sells it to a registered supplier; Finance Ministry reasons that "Even though the sale of old gold by an individual is for a consideration, it cannot be said to be in the course or furtherance of his business (as sell...