WebApr 19, 2024 · 10% Customs Duty on gold being imported from overseas. 3% GST on the value of gold in the jewelry. 5% GST on making charges of the gold jewelry. The 5% GST is applicable to making charges of the … WebJun 12, 2024 · The Goods and Services Tax (GST) Council on Sunday reduced the applicable tax rate on jewellery making charges from 18% decided earlier to 5%. This …
GST Codes: What are the SAC and HSN Code List? - Tally
WebFeb 21, 2024 · Gold Coin comes under HSN Code 7118 and attracts a 3% GST rate. What is making charge on gold jewellery under GST? A 5% making charge is levied on gold jewellery under GST. Do gold rates include GST? No, it doesn't. gold rates only indicate the price of gold in given purity. Making charges and GST is then added afterwards to … WebMay 13, 2024 · HSN & SAC code List in GST. Under GST, all goods and services supplied in India have been classified - Goods are classified under the HSN Code and Services are classified under the SAC Code. Based on the HSN or SAC code, GST rates have been fixed in five slabs, namely 0%, 5%, 12%, 18% and 28%. In the GST regime each invoice … software testing dubai
Gold making charge: How different methods of levy …
WebThe HSN CODE FOR Financial and related services is 9971. The HSN CODE FOR. Financial and related services. is. 9971. The full form of HSN Code is Harmonized System of Nomenclature. It was introduced in 1988 by the World Customs Organization (WCO). It is a 6-digit code that separates different products. India has been using HSN codes since … WebJan 22, 2024 · Jewellers goes to the Hallmarking Center to mark his own jewelry. The hallmarking center examines its accuracy and finds a certified mark on it. In return, he charge some values on it.. Moreover he charge18% GST on it. But I think 5% tax on the same. as per HSN code 9988. CA Rashmi Gandhi (Expert) Follow. 23 July 2024 No rate … WebSep 11, 2024 · Naresh Dhakad (18 Points) Replied 19 August 2024. Thanks Mr Rathi for reply.... but GST @ 5 % is on labour job of gold Jewellery. not on charges received for Valuation of gold jewellery. Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (138609 Points) Replied 20 August 2024. slow motion rat trap