Purchase from composite dealer
This query is : Resolved
21 August 2017
we are in the Normal/Regular scheme in GST. Can we purchase materials from the composite dealer ? if yes, how should the input tax calculated ? or do we have to pay taxes for those purchases made ?
21 August 2017
Yes you can purchase from composite dealer, there is no problem in that, but note that neither composite dealer can take credit on his purchases nor dealer purchasing from composite dealer can claim input tax credit on his purchases.
21 August 2017
Yes Mr Shubanshu is correct. You are not paying tax to composite dealer, so you cannot claim ITC.
And moreover RCM is not applicable because composite dealers are registered dealers.
And moreover RCM is not applicable because composite dealers are registered dealers.
21 August 2017
Thanks for the reply. Should i treat the purchases made from composite dealer as zero rated purchase ? or how should i account in GST ?
21 August 2017
There is a separate column for purchases from composite dealers.
21 August 2017
thanks for your reply saloni
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