Posted on August 30, 2017March 6, 2018 by abhishekGold and silver imported by banks/nominated agencies on consignment basis are lying in stock as on 1st July. Clarification is required on how to charge the customers in transition phase from VAT to GST. Will customers be liable to pay GST rates GST is payable @ 3% with effect from 01.07.2017. ( FAQ 4: GEMS AND JEWELLERY)