Gold Silver Rate Today: Now the price of 10 grams of gold in Delhi has gone up to Rs 49,140. At the same time, the price of one-kilo silver has now become Rs 68 thousand 710.
Gold Silver Rate Today: Amidst the fall in precious metals in the global market, the price of gold increased by Rs 40 in the Delhi bullion market on Tuesday. Now the price of 10 grams of gold in Delhi has gone up to Rs 49,140. At the same time, the price of one-kilo silver has now become Rs 68 thousand 710.
Due to this, gold had closed at Rs 47,093 per 10 grams in the previous trading session. Silver was also down by Rs 97 at Rs 66,856 per kg. In the last trading session, the price of silver was Rs 66,953 per kg. In the international market, gold fell to USD 1,805 an ounce while silver remained almost unchanged at USD 25.39 an ounce.
There is big relief news for jewelers. The Karnataka Authority for Advance Ruling (AAR) has held that in case of resale of old gold jewelry, jewelers will have to pay GST only on the profit so earned. The decision has been taken in the context of an application filed by Aadya Gold Pvt Ltd, seeking to clarify whether the goods and services shall be sold only on the difference between the sale price and the purchase price prescribed under Rule 32(5) of CGST. Service Tax (GST) is to be paid.
Rules, 2017, if the applicant buys used or used gold jewelry from persons and there is no change in the form or nature of the goods at the time of sale. The AAR noted that GST is payable only on the difference between the sale price and the purchase price, as the applicant was not changing the form of jewelry to bullion and then to new jewelry, but was cleaning and polishing it.
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