Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Impact of gst on consignee & sale agent

Save Share

This query is : Resolved

Nikhil Barkiya (Querist)
Follow

04 July 2017 Dear Sir,
We are consignee & sales agent of Pharmaceuticals Product of Pharma Companies in Madhya Pradesh. The Pharmaceuticals companies situated in Maharashtra, Gujarat and other southern states transfer goods to us and we issues "F Form" against it. And then we sale the goods to stockiest on the same invoice price in MP with our TIN on the invoice. The payment received(is in the name of company is directly deposited in company account by stockiest(cheque/cash/NEFT). We only receive commission on the sales turnover for the services provided by us.
My query in this regard is, what will be the impact of GST on our business? whether we can continue in the same manner or not?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

04 July 2017 You can't continue in the same manner. You have to pay IGST against tax invoice for purchase and claim input credit on your sale. No F forms are available now.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now