https://www.taxtmi.com/caselaws?id=759666 AAR West Bengal ruled that a dealer purchasing second-hand gold jewellery from unregistered individuals and melting/reshaping them into new items constitutes manufacturing under GST Act section 2(72), not mere trading in second-hand goods. The process transforms raw materials into new products with distinct characteristics. Therefore, the applicant cannot avail benefits under Rule 32(5) CGST Rules 2017 for margin-based taxation and must pay GST on full transaction value at applicable rates, not on margin value between purchase and sale price. en-us Tue, 10 Sep 2024 00:00:00 +0530 Mon, 12 May 2025 23:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759666 AAR West Bengal ruled that a dealer purchasing second-hand gold jewellery from unregistered individuals and melting/reshaping them into new items constitutes manufacturing under GST Act section 2(72), not mere trading in second-hand goods. The process transforms raw materials into new products with distinct characteristics. Therefore, the applicant cannot avail benefits under Rule 32(5) CGST Rules 2017 for margin-based taxation and must pay GST on full transaction value at applicable rates, not on margin value between purchase and sale price. Case-Laws GST Tue, 10 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759666