Gold and jewellery delivery one place another place take it

This query is : Resolved

P.K.BEHERA

P.K.BEHERA (Querist)
Follow

07 November 2017 I am a gold wholesaler. My staff normally travels to retailer’s door to door for selection of
goods, selected goods are then sold with a sales invoice. How will my goods be taxed when
they are out to retailers for booking orders, before sale is final? gold delive challan must be done yes or not briefly describe.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

07 November 2017 Sale on approval basis under GST regime

Unlike consignment sales, sales on approval basis are not deemed as supplies under GST. Hence, in such a scenario, the principal can send the goods to the agent by issuing a delivery challan instead of a tax invoice, and without charging GST on the same.

However, once the goods are sold by the agent to the end customer, it implies that the agent has accepted the goods received on approval. Once this sale has been ratified by the agent, the principal can then issue the tax invoice, and charge GST. The agent, at his end, can collect the purchase invoice, and avail the input tax credit on the GST paid, while filing his returns and paying the output GST liability to the government. Balance amount of tax if any, can then be paid via cash.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

RAHUL SURANA

CA Lalit Kumar Agrawal

Rajesh Surapaneni

RATI MALU

jaspreet sidana

Subscribe Now

Gold and jewellery delivery one place another place take it

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA