I have gold and silver jewellery to the value of R12,000 and a liability of R28,000.
If you have other Zakaatable assets besides the gold and silver jewellery, its value should be added to the value of the gold and silver jewellery as well. If the liability of R28,000.00 exceeds the value if the assets there is no Zakaat. However, if there is an excess which is equivalent or more than the Nisaab amount, Zakaat will be payable on the excess only. There is no Zakaat on jewellery except on pure gold and pure silver.
and Allah Ta’ala Knows Best
Mufti Ebrahim Desai