AAR: Rules on valuation of second hand jewellery absent change in form/nature & ITC admissibility thereof

AAR holds that the valuation of supply of second hand gold jewellery purchased from individuals not registered under GST can be done under margin scheme prescribed under Rule 32(5) CGST Rules; Notes that applicant is not melting the jewellery to convert it into a bullion and then remaking it to new jewellery but only cleaning the old jewellery and polishing it without changing the nature and form of the jewellery so purchased; Stating that applicant would have to invoice...