Dear Expert,
My company is ABC India Pvt Ltd and bought the raw material from "A" company and gst rate is 5% but when putting this raw matrial in the production then some material getting Scrap/wastage and some is ready to sales (FG) and my final Fnished goods gst rate is 18% when i am selling.

I have an three question raised on my query
first question question is : in this above scenerio : what will scrap or wastage impact in manufacturing trading profit and loss account and balance sheet means which head impact in the P&L & B/alance sheet account as well as journal entry. ?

Second Question is : in this scenerio: If i am selling scrap/wastage then what should i charge the GST rate on scrap/wastage like 5%, 18% because during the production time bought the raw material gst@5% and during the sale i am selling my product gst@18% so, Please clarify what should i charge the gst rate on scrap/wastage 5% or 18%? as well as what impact on manufacturing trading profit and loss account and balance sheet and journal entry ?

Third Question is: in this scenerio : i am bought the raw material gst@5% and selling the product (FG) gst@18% then i am lossing the itc 18-5 = 13% so, what will the treatment under gst for covering the itc and any rule with practical example.?

Please assist me

Thanks

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Sir, we are commission agents in APMC in bangalore. we buy directly the Dry Red Chillies from Andra and sale to the buyers in kolkotta for export. we get the money directly in to our bank account and same is paid to the farmers immediatly.

My question,
1. do we need to pay RCM for the Dry Red Chillies purchased from the Farmers?
2. do we need to charge GST to the buyers in Kolkotta

Shivkumar
9845845151

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