TaxTMI 
TaxTMI 
GST applicability on sale of silver as an investment
X X X X Extracts X X X X
X X X X Extracts X X X X
....ST applicability on sale of silver as an investment<br> Query (Issue) Started By: - Neer Maru Dated:- 21-1-2026 Last Reply Date:- 22-1-2026 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>Hi, ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Just out of curiosity, if a company purchases silver as an investment, does not claim ITC. and later it sells it to the directors/outsiders for consideration at MV with some profit. Whether GST will b....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e applicable on sale. Will it be considered supply as per 7(1), Whether it will be considered in course or furtherance of business? Note: the company is in any business not even remotely connected to ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....precious metals Thanks in advance! Reply By Sadanand Bulbule: The Reply: The sale of silver by the company constitutes a "supply" under Section 7(1) of the CGST Act because it is a transaction for ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....consideration made in the course or furtherance of business, regardless of the companys primary industry or the fact that Input Tax Credit was not claimed. Reply By Sooraj B: The Reply: The term bus....
X X X X Extracts X X X X
X X X X Extracts X X X X
....iness as per Section 2(17) of the CGST Act includes any trade, commerce etc or any similar activity whether or not for pecuniary benefit and includes such activity whether or not there is volume, freq....
X X X X Extracts X X X X
X X X X Extracts X X X X
....uency, continuity or regularity of such transaction. Accordingly, the sale of silver by the Company will constitute a supply under Section 7(1) of the CGST Act.<br> Discussion Forum - Knowledge Sharin....
X X X X Extracts X X X X
X X X X Extracts X X X X
....g ....