NIL RATED OR EXEMPTED OR 0%

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This discussion clarifies how to handle tax for refurbished mobile sales. The advice is to declare the profit margin (e.g., Rs. 5,000) under the taxable value for B2C transactions. The total sale value should be shown under 'exempted' or 'nil rated' categories. This approach also applies to other items like Globes and Non-dust chalk.

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(Querist)
19 July 2024 Sir i have a business of refurbished mobiles and i calculate tax on profit margin.
Example: purchase=1,00 000, sale=1,05,000
Profit margin=5,000
My query is the i will show profit margin in B2C Rs. 5,000 under taxable value but where to show sale value under Nil Rated or Exempted or 0% ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
19 July 2024 Show it under exempted.
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Asif Ali

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Asif Ali (Querist)
19 July 2024 Very very thanks sir....
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Asif Ali

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Asif Ali (Querist)
19 July 2024 Sir same question about Globes, Non-dust chawlk etc....
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