Zakaat on jewellery
Question
1. A person has a jewellery shop. In this he sells a golden ring having a diamond. The gold value of the ring is 1000 pounds, but the ring is sold for 2000 pounds (which includes the value of the diamond, labour etc). Should he pay zakat on the gold value (1000 pounds) or the full value of the ring (2000 pounds)?
2. Further, the person buying the ring, should she pay zakat on the gold contents (1000 pounds) or the full value of the ring (2000 pounds)?
Answer
Since this is a commodity put up for sale then he should count it as a zakaatable asset and he should pay zakaat for the full value i.e. the gold and the diamond.
The person that is purchasing must pay zakaat only on the gold content.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Ebrahim Salejee (Isipingo Beach)
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