|Welcome|19-10-2024 07:37 PM|Dear valued client,

If there is any change in "CUSTOM DUTY" we will deliver Gold at the same price as traded.

If there is any Increase or Decrease in GST then invoice will be raised as per the new GST rate.

 You are requested to make note of this, 
Regards 
S. Mahendrakumar Devichand|22-07-2024 10:06 PM|Dear clients ,
 
Kindly note on the auspicious eve of Diwali , muhurat trading session will begin today from 6:21 pm to 7:21 pm 

Best regards,
S mahendrakumar devichand 
SMD|12-11-2023 02:44 PM|

Please note, The Finance Act 2021 has inserted new section 194Q of the Income Tax, 1961 and has proposed a levy of tax by way of tax deduction source (TDS) on purchase of goods with effect from 1st Jul 2021. This levy is on same transaction which was introduced by the Finance Act 2020 and TCS under section 206C(1H) on sale of goods was levied with effect from 1st October 2020.

 As per new provision 194Q:

 If the turnover of the Buyer exceeds 10 Crore in Previous FY 2020-21, the Buyer has to deduct TDS @ 0.1% on value of the goods purchased.

 If the turnover of the Buyer is below 10 Crore in Previous FY 2020-21, the Buyer will not deduct TDS. In this case S.MAHENDRAKUMAR DEVICHAND BULLION will collect TCS @ 0.1% under section 206C(1H) on the same w.e.f. 1st Jul 2021 read with section 194Q.

 Note: Request you to please provide/declare your turnover of FY 2020-21 in enclosed format on your letterhead, whether turnover exceeds 10cr or below 10cr. Based on such declaration onus of TDS/TCS will be decided.

 Declaration to be received by S MAHENDRA latest by 10th June 2021.

|05-07-2021 12:29 PM||01-04-2021 05:02 PM|Dear Client,
Kindly note, it's compulsory for you to pick your deliveries as per the contract. If there is any failure in lifting delivery then heavy charges will be applicable. The charges are Rs.8000/KG i.e Rs 800/100G
You are requested to make note of this & trade accordingly. 
As per Finance Act 2021, a new provision of TCS (0.10%) will be applicable from April 1st, 2021 on all payments and deliveries until further notice. |30-03-2021 01:54 PM|


Kindly note: 

1. If there is a change in custom duty, the metal shall be delivered to you at the price traded! 
Say for instance if the customs duty goes up/down, we will supply the gold at the old duty for the deals already transacted till date. For e.g. if you buy one kilo of gold at INR 48000 per 10 grams and if the duty goes up/down, the trade will remain at INR 48000 per 10 grams.

2. Currently, we are having a common GST structure for gold i.e. 3 % GST is applicable on the booked value. However, if there is an increase/decrease in GST,  then they would be borne by the client.

For e.g. the price quoted in Mumbai is INR 48,000 without GST and you book an order. Invoice will be made as INR 48000 + 3% GST as on date of delivery. If rate of GST is changed as on date of delivery say to 5% then the client will be invoiced at INR 48000 + 5 % GST.

|28-01-2021 11:50 AM|

TCS EXEMPTED AS PER THE FINANCE ACT, 2020 (CBDT) NO TCS ADDED TO THE FINAL BILL AS NOT LIABLE TO COLLECT TAX FROM THE BUYER

|04-12-2020 01:33 PM|gold trend up|01-12-2020 04:04 PM|New App Launch.|12-04-2018 11:30 PM|Welcome to SMD Bullion.|12-04-2018 11:24 PM|