Not taxing sale of old gold jewellery could lead to tax evasion

The finance ministry has clarified that selling old jewellery won’t attract goods and services tax (GST). According to the finance ministry, sale of old jewellery to a trader cannot be taxed as it is not a transaction made in the course of running a business. Also, since sale of old jewellery is not the business of the seller, the transaction cannot be taken as a taxable supply of the item. Howeve…