Gold Jewellery

Key requirements

Ordinary timing is invoice or payment, whichever comes first. Where price is unfixed and payment absent at delivery, the special rule allows up to ninety days; any payment within that period triggers tax on the received amount. If still unfixed at day ninety, use open-market value and adjust later when the final price is fixed. Part-payment deposits trigger GST when received. A gold-jewellery-only administrative concession permits GST on new jewellery including workmanship less old-jewellery trade-in value. Do not extend that concession to all trade-ins or confuse ordinary jewellery with exempt investment precious metals.