Big relief on buying and selling, now GST will be applicable only on profits

R’s big decision has come regarding the GST levied on the purchase and sale of gold jewellery. With this decision, the GST on the resale of second hand jewellery will be significantly reduced. This will benefit those consumers who will buy second hand jewellery. They have to pay less tax.

GST on selling second hand gold jewelery
According to this decision of Karnataka R, only the profit earned by the jewelers on the resale of second hand gold jewelery will attract GST.