19 October 2018
Hello, In this case my client is dealing in Second hand computers, Recently we received an Invoice in which rate of GST charged is 0.36% content of invoice as follows Gross Valu RS.1,22,501 CGST 219.71 SGST 219.71
no taxable value mentioned on invoice that's the confusing point. On eway bill of concerned invoice Gross Value is shown as Rs.1,22,501. but they showed tottaly different figures in GSTR-2A with tax rate of 18% . In GST-2A details shown as follows Gross 2880.64 Taxable 2441.22 CGST 219.71 SGST 219.71
We did made payment through cheque in toatal. Other party is claiming they come under margin Scheme so special rate is applicable to them. But in fact, in margin scheme issue of taxable invoice is prohibited One can not pass or claim ITC in margin scheme. this is basic example i got while reading on this case For example, M/s. XYZ, a car selling company, which deals in buying and selling of second hand cars, purchases a second hand car at INR 5,00,000 from an unregistered person and sells the same after minor furbishing at INR 5,75,000. The supply of the car to the company for INR 5,00,000 would be exempted and the supply of the same by the company to its customer for INR 5,75,000 will be taxed and GST will be levied. The value for GST purpose will be INR 75,000 i.e. the difference between the selling and the purchase price of the company.
What actions can be taken in this case? How we can get proper GST invoice as party is not ready to respond to mails and also not ready to provide correct invoice.?
CAclubindia
