Composite purchase

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RASH BIHARI JHA (Querist)
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01 April 2018 sir
1.gst purchse 1oo +18% = 118 from regular dealer
2.purchase by composite dealer (1% scheme)
3 he sold to regular dealer rs120 and mrp 125
question--
a)last purchaser input available or no
b)mrp 125 and purchase cost 120 if charged 18 % gst than price above mrp

RAJA P M

RAJA P M (Expert)
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02 April 2018 If You mean Mr. A transact the all above...? and Mr. A is registered under GST as Regular dealer...? If both of Yes.... then a) Yes... He avail ITC if registered under GST as regular. b) The transaction as per above then price is exceed the MRP. But, no way for sale over MRP...