Transforming Second-Hand Jewelry into New Pieces Qualifies as Manufacturing, Affects GST Margin Rule Application.
Case-Laws
GST
The applicant purchases second-hand gold or diamond jewelry from unregistered individuals, melts and transforms them into new pieces, altering their nature and characteristics. This process constitutes manufacturing u/s 2(72) of the GST Act, where the purchased gold is used as a raw material or input to make a new commodity. When the applicant melts the jewelry into gold lumps, the nature of the goods changes, and the characteristics and classification are altered. In such cases, the applicant cannot avail the benefit of Rule 32(5) of the CGST Rules, 2017, which allows paying GST on the margin value (diffe
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =