Gst tax applicable on supplier or traders
This query is : Resolved
29 June 2017
sir i am a trader purchase goods from unregistered person but i have regsitered for gst. as per rule after 1t july rcm is applicable to me for purchase good from unregistered person. but my business is purchaseing cement, bricks, and block and selling to builders. can i apply for composition scheme of gst because my last year turnover is 4700000. further i sale good to builders they are registered under gst. whether again i has to collect gst from builder also and pay to govt? means i have to pay 2 taxes one from builder and other from supplier(rcm). please help me i m confused
CA S K MISHRA
(Expert)
29 June 2017
If the Turnover in the preceding financial year was less than Rs.75 lakhs, a dealer can opt for Composition scheme. In such situation GST applicable is only 1% on total turnover. On inward purchase of goods from un-registered person, the dealer is required to pay GST at applicable rate but for outward sale, the dealer can not issue Tax invoice and as such can not collect GST from buyer.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- Under marginal scheme
- Capitalgain tax purposes for valuation report compulsory
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- TDS on Fixed Assets purchased
- Import of Software Service.
- Oct 2025 Invoices
- GST on Renting godown to KFCSC for Storage of Raagi
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
