GST RATE on sale of trophies and medals

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Charging 12 percent GST on trophies when correct rate is 18 percent is not valid. GST must be charged as per applicable rate, not purchase rate. Wrong classification can lead to tax demand, interest, and penalties.

CYNTHIA

CYNTHIA (Querist)
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28 February 2024 Hi everyone,
I am working with a dealer in trophies and medals. The firm purchases the trophies at GST rate of 18% and 12%, but at the time of sale he advices me to charge only 12% GST even if we have purchased the trophies at 18%. Can anyone tell is it a right practice. And what will be the consequences if the GST department comes to know about it. Are there any penalty or fees imposed for the same.

Thanking you

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 March 2024 It's not a right practice.
Yes, penalty will be imposed by GST department

CYNTHIA

CYNTHIA (Querist)
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01 March 2024 Thank you sir, for your valuable reply.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 March 2024 You are welcome...
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