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MALABAR GOLD PRIVATE LIMITED
(Authority for Advance Ruling, Kerala)

Hon'ble Judges:

S.L. SREEPARVATHY
ABRAHAM RENN
Pet. Counsel
Ajithkumar
Res. Counsel
---

Petitioner / Applicant

MALABAR GOLD PRIVATE LIMITED
Respondent NA
Court

AAR (Authority for Advance Ruling)

State

Kerala

Date Apr 3, 2023
Order No.

KER/12/2023

Citation

2023(4) TAXREPLY 7612
Original Order
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ORDER

1. M/s. Malabar Gold Private Limited (hereinafter referred to as the applicant) has multiple branches and is engaged in the retail and wholesale of jewellery. The applicant transfers gold bars of specified quantifies to jewel makers for making ornaments and purchases ornaments from them, where the jewel maker would charge making charges apart from the transaction value of ornaments sold to the applicant. Against the said purchase, the applicant would net off by way of book adjustment the value of gold bars given to them and would ultimately discharge only the value of making changes. On certain occasions, the sale of a gold bar would be made by one - GSTIN of the company, whereas the purchase of ornaments would be made by another GSTIN, on the basis of business requirement but within the same company. Later on, the respective GSTIN would be making book adjustments to square off the receivables/payables. Similar adjustments are done for the purchase of bullion from banks and other ve....

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