GST ON COTTON
19 November 2019
Cotton, under headings 5201 and 5203, falls in the 5 per cent tax slab. But as farmers are not liable to pay tax and not registered under GST, buyers of raw cotton will be required to pay the tax on reverse charge basis
If trader purchased cotton from farmer and sold it to Ginner then how trader will Claim ITC
20 November 2019
Raise tax invoice for 5% on ginner and claim ITC on RCM paid.