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Buy GOLD below market rate - 10% Discount on Gold Coins at AJIO on ICICI Credit Cards

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Random123 said:
Yes sorry, this is the 5% cashback, but not only on online txns. Haven't tried on offline before though.
The 7500 is the minimum amount of spend to trigger this cashback.
If your total eligible spends in that cycle is less than 7500, 5% won't kick in.
Also it is 5% upto 500. So basically sweet spot is 7500 to 10000 in a cycle
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So it would be applicable on gold buy from ajio wo discount willl be 10% appeals, 10x rewards and 5% this off?
For simple calculation if we assume no capping it would be 17% Off 😲 . If you have already spend 7500 through other payments in the statement
 
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AlphaCAT said:
Idk what"s the hype !! If u consider just 10% off and not any added bonus like with AU LIT/ One Card accelerator and earlier the GOLD Rush 100 off or freebie .

There is nothing much different !! Lets say IBJA rate today is 7151 and I am getting BR 1gm 24kt 999.9 at 7136 after 10% off and platform fees . Only Rs 15 difference/gm . Yeah I have excluded the GST part as if u are reselling or exchanging, u get the value only . If someone wants to hold their gold investment in physical form then it seems fine , else not !!
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My mom asked local shops as well, they were giving 7600 for 1gm 999, so online ne we got for 7130 which is fine.

Actually close family me shaadi type function me kaam aa jaata hai.
Gold is better than money and any other stuff for gifting.
 
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nits123 said:
Today i exchanged my BRPL gold coins for jewellery at BHIMA jewelers. The morning IBJA rate for 999 Gold was 7139 per gm at IBJA and Bhima gave me the rate of 7150 per gm. I received full value of BRPL coins in exchange of jewellery. In their testing machine, all the coins were shown as 24 kt and weight tolerance was within acceptable limits.
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In case of exchange of gold coin for jewellery - do they still levy a GST of 3%?
 
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nits123 said:
Gst is not applicable at sale of gold coins...if some jeweler is charging then he is fooling around...complain to gst department
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1. Bhai, GST is even applicable on sale of digital gold. So I don't think that it won't be applicable for coins.

2. Here matter is different,. A person is exchanging gold coins for gold jewellery. The jewellers charge GST on entire amount of gold jewellery, not only on the difference ( between jewellery and coin).
 
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bigbyte said:
1. Bhai, GST is even applicable on sale of digital gold. So I don't think that it won't be applicable for coins.

2. Here matter is different,. A person is exchanging gold coins for gold jewellery. The jewellers charge GST on entire amount of gold jewellery, not only on the difference ( between jewellery and coin).
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Gst not applicable if individual sell gold to jeweler

www.businesstoday.in

No 3% GST when individuals sell gold jewellery to registered jewellers, says Arun Jaitley

Finance Minister Arun Jaitley on Thursday clarified that sale of old jewellery by an individual to a jeweller will not attract the provisions of Section 9(4) of the CGST Act, 2017.
www.businesstoday.in www.businesstoday.in
 
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