Gold, silver and cash

Zakaat on jewellery

Q:

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)?

Zakaat on gold

Q: If we pay zakaat for 108 grams gold one year, next year we minus 2.5 grams from that gold or not? I mean we pay 105.5 grams zakaat next year or pay for the same 108 grams?

Zakaat on jewellery

Q: I was always thought that zakaat is paid on jewellery irrespective of whether it is used or not. Recently few people have insisted that no zakaat is paid on jewellery if it is being used. They claim you only pay on jewellery not used more than a year. Is this true? Please clarify so I can correct them.

Zakaat on cash

Q: I have saved R 10 000 for close to a year, however 1 month from completing a year, I had to use R 5000. Only R 5000 is eventually saved for a year. Is zakaat only due on the remainder of the saving amount i.e. R 5000? Please advise further.