Highlights 1 No GST on individuals selling old gold ornaments to jewellers, Centre clarifies. In an important clarification that is bound to bring cheer to people who follow the gold old Indian habit of selling old gold jewellery for cash, the government on Thursday said that GST won't apply when individuals sell old gold ornaments or cars. The clarification means that jewelers will not be liable to pay GST under RCM when they purchase old gold from individuals. Similarly, the government has clarified that GST will not be levied in cases of individuals selling their old cars. However, if the person selling the old gold is an unregistered supplier of gold ornaments, then the GST of 3 per cent will apply, Jaitley further clarified.

Source: India Today July 13, 2017 21:13 UTC