SALE OF RAW SILK IS REPORTED UNDER EXEMPTED OR 0% RATED IN WHILE FILING GST RETURNS. 0% RATED GOODS MEANS INPUT CLAIMABLE OR NOT, PURCHASE AND RESALE OF RAW SILK SHOULD BE REPORTED IN EXEMPT SUPPLIES OR NIL RATED OR 0% RATED.
ONE OF MY CLIENT PURCHASE RAW SILK FROM SILK EXCHANGE AND RESALE TO SUPPLIERS NOW WE SHOULD REPORT AS EXEMPT SUPPLIES OR 0% RATED SUPPLIES
HERE I HAVE REPORTED AS EXEMPTED SUPPLIES, BUT HERE SOME OTHER PEOPLE REPORTED RAW SILK AS 0% RATED AND IF THE SUPPLIER SOLD TO REGISTERED DEALER THEY ARE REPORTING GSTR 1 B2B CLASSINFYING 0% RATED TAX, THEY ARE SAYING TO ME ALSO REPOT IN 0% RATED SUPPLIES.
SOME SUPPLIERS ISSUE TAX INVOICE INCLUDING EXEMPTED AND TAXABLE SUPPLIES WHILE REPORTING B2B, EXEMPTING SUPPLIES SHOWING IN 0% CLASSIFICATION. IF THERE WILL BE A PROBLEM IF WE REPORTED IN 0% RATED SUPPLIES,
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