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GST Input or output

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(Querist)
19 March 2022 Our co has purchased material from mr A but actual goods are not received and mr A asks our ourganisation to sell back its goods with 5% margin..
And our co has recorded this 5% margin as income (neither it recorded purchase nor recorded sale) now the question how the gst will be recorded on this margin as output gst aur input gst is to be lower down?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
19 March 2022 Whether tax invoice issued.
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CA Altamush Zafar

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CA Altamush Zafar (Expert)
19 March 2022 Since there is no proof that sale actually took place at the first place the property in goods wasn't transferred. Therefore it is not sale prima facie and therefore outside the scope of supply. Seems to be in the nature of speculation gain. Avoid such transactions except through authorised exchanges since there is no documentary proof whatsoever.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
19 March 2022 Account it as other income if no tax invoice is issued with GST.
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