Dear Experts, Purchase of 24K pure gold will be recorded in zero rated or RCM Local and in which box it should be reported in VAT return in UAE.
Purchase of 24K pure gold will be a domestic zero rated purchase since it is a supply of precious metal as per Article 36 of the Executive Regulations. Cabinet Decision No. 25 of 2018 related to RCM on B2B purchases does not apply to zero rated supply of gold. Domestic zero rated purchases are not required to be reported in VAT return.0 Like