https://www.taxtmi.com/caselaws?id=440250 The AAR Kerala ruled that Rule 32(5) of CGST Rules, 2017 regarding valuation of second-hand goods does not apply to gold jewellery purchases. The authority determined that gold's value is based on content, purity, and fineness rather than usage duration, making depreciation concepts inapplicable. Since gold maintains its intrinsic value regardless of ownership changes and doesn't qualify as "second-hand goods," dealers cannot use the differential pricing method under Rule 32(5). Standard valuation under Section 15 of CGST Act 2017 applies instead. The applicant cannot avail benefits of the second-hand goods provision for gold jewellery transactions. en-us Thu, 02 Mar 2023 00:00:00 +0530 Fri, 18 Apr 2025 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440250 The AAR Kerala ruled that Rule 32(5) of CGST Rules, 2017 regarding valuation of second-hand goods does not apply to gold jewellery purchases. The authority determined that gold's value is based on content, purity, and fineness rather than usage duration, making depreciation concepts inapplicable. Since gold maintains its intrinsic value regardless of ownership changes and doesn't qualify as "second-hand goods," dealers cannot use the differential pricing method under Rule 32(5). Standard valuation under Section 15 of CGST Act 2017 applies instead. The applicant cannot avail benefits of the second-hand goods provision for gold jewellery transactions. Case-Laws GST Thu, 02 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440250