How to calculate gst on sale

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Querist : Anonymous

Querist : Anonymous (Querist)

17 September 2017 Both schems ,,, regular and composition... If purchase price =1000+ 18%+200 = 1380.
If I'll sale . what's amount will collect from buer, if buyer is dealer , plz help me with full examples and details,

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

17 September 2017 If you are in regular scheme You have to charge (1000+200)+18% as you take credit of 18% paid on purchase.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

17 September 2017 Im composition scheme you have to charge [(1000+18%)+200] as you don't get credit of tax paid on purchase.

RAJA P M

RAJA P M (Expert)

17 September 2017 As per regular scheme, A regular dealer purchase goods as follow, Material Cost - Rs. 1000 GST @ 18% - Rs. 180 = 1180... Also his expenditure (process/any other) is Rs. 200 .. Total material value Rs. 1200 + Tax, If he add profit (10%) on Material Value Rs. 120 Now, the Sales value as follows Material Value - Rs. 1320 GST @ 18% - 238 Total - Rs. 1558... After complete the process his Tax liability (238-180) Rs. 58. He ll pay Tax Rs. 58.... Regular can follow above said way....

RAJA P M

RAJA P M (Expert)

17 September 2017 As per Composition scheme, A Composition dealer purchase goods as follow, Material Cost - Rs. 1000 GST @ 18% - Rs. 180 = 1180... Also his expenditure (process/any other) is Rs. 200 .. Total material value Rs. 1200 and Tax value Rs. 180 Total Cost Rs. 1380... After add his profit (10%) 138... Total material value his hand Rs. 1518... He sale his material in Bill of Supply Rs. 1518....

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RAJA P M

RAJA P M (Expert)

17 September 2017 Composition dealer (trader) pay Tax @ 1%. 1518 * 1% = 15.18 (7.59 + 7.59)...

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

17 September 2017 Wrong going RAja.....

RAJA P M

RAJA P M (Expert)

17 September 2017 Mam,
What you mean....?
What is wrong my way...? Any reason...

RAJA P M

RAJA P M (Expert)

17 September 2017 Mam., Please reply... You found any wrong in my activities and replies. Please correct if I'm wrong...? Thank you for the Suggestion...

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

17 September 2017 If dealer purchase in 1000+18% & registered in Normal scheme then he get credit of rs.180(18%). Now you will sale on 1000+200 profit so your sale value is 1200 & tax to be paid on it is 18%.....

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

17 September 2017 Now if you opt for composition scheme then your cost will be (1000+180)+200 profit. & then you have to pay tax on 1380 @1%

RAJA P M

RAJA P M (Expert)

17 September 2017 Madam., It's simple... First of purchase then it's transactions like transport, admin some expenditure after only the dealer add profit.....

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

17 September 2017 Yes agreed to you on it.

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