Gold Silver Rate Today: Gold prices increased by Rs 40 in the Delhi bullion market on Tuesday amid a fall in precious metals in the global market. Now the price of 10 grams of gold in Delhi has gone up to Rs 49,140. At the same time, the price of 1 kg silver has now become Rs 68,710.
Gold closed at Rs 47,093 per 10 grams
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.
Relief news for jewelers
There is a big relief news for jewellers. The Karnataka Authority for Advance Ruling (AAR) has held that in case of resale of old gold jewellery, 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 jewelery 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 jewelery to bullion and then to new jewellery, but was cleaning and polishing it.