https://www.taxtmi.com/forum/issue?id=117647 A registered gold merchant using personal jewellery in business does not trigger reverse charge under Section 9(4) on conversion, but an onward sale by the registered person is liable to GST at the rate applicable to gold jewellery; conversion of a capital asset into stock-in-trade is deemed a transfer attracting capital gains tax, and subsequent sale is taxable as business income, with accounting treatment affecting Income Tax outcomes. en-us Wed, 17 Nov 2021 12:15:57 +0530 Thu, 23 Jan 2025 15:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117647 A registered gold merchant using personal jewellery in business does not trigger reverse charge under Section 9(4) on conversion, but an onward sale by the registered person is liable to GST at the rate applicable to gold jewellery; conversion of a capital asset into stock-in-trade is deemed a transfer attracting capital gains tax, and subsequent sale is taxable as business income, with accounting treatment affecting Income Tax outcomes. Discussion-Forum GST Wed, 17 Nov 2021 12:15:57 +0530 https://www.taxtmi.com/forum/issue?id=117647