RAW SILK IS EXEMPTED GOODS OR 0 RATED UNDER GST
This query is : Resolved
02 March 2024
DEAR SIR,
SALE OF RAW SILK IS REPORTED UNDER EXEMPTED OR 0% RATED IN WHILE FILING GST RETURNS.
0% RATED GOODS MEANS INPUT CLAIMABLE OR NOT, PURCHASE AND RESALE OF RAW SILK SHOULD BE REPORTED IN EXEMPT SUPPLIES OR NIL RATED OR 0% RATED.
ONE OF MY CLIENT PURCHASE RAW SILK FROM SILK EXCHANGE AND RESALE TO SUPPLIERS NOW WE SHOULD REPORT AS EXEMPT SUPPLIES OR 0% RATED SUPPLIES
THANK YOU
SALE OF RAW SILK IS REPORTED UNDER EXEMPTED OR 0% RATED IN WHILE FILING GST RETURNS.
0% RATED GOODS MEANS INPUT CLAIMABLE OR NOT, PURCHASE AND RESALE OF RAW SILK SHOULD BE REPORTED IN EXEMPT SUPPLIES OR NIL RATED OR 0% RATED.
ONE OF MY CLIENT PURCHASE RAW SILK FROM SILK EXCHANGE AND RESALE TO SUPPLIERS NOW WE SHOULD REPORT AS EXEMPT SUPPLIES OR 0% RATED SUPPLIES
THANK YOU
02 March 2024
Report it under exempted items.
It's exempt or Nil rated not 0 rated.
Show it under exempt supply.
It's exempt or Nil rated not 0 rated.
Show it under exempt supply.
02 March 2024
THANK YOU FOR YOUR REPLIES SIR,
HERE I HAVE REPORTED AS EXEMPTED SUPPLIES, BUT HERE SOME OTHER PEOPLE REPORTED RAW SILK AS 0% RATED AND IF THE SUPPLIER SOLD TO REGISTERED DEALER THEY ARE REPORTING GSTR 1 B2B CLASSINFYING 0% RATED TAX, THEY ARE SAYING TO ME ALSO REPOT IN 0% RATED SUPPLIES.
THEY ARE CORRECT OR WRONG SIR,
REGARDS
HERE I HAVE REPORTED AS EXEMPTED SUPPLIES, BUT HERE SOME OTHER PEOPLE REPORTED RAW SILK AS 0% RATED AND IF THE SUPPLIER SOLD TO REGISTERED DEALER THEY ARE REPORTING GSTR 1 B2B CLASSINFYING 0% RATED TAX, THEY ARE SAYING TO ME ALSO REPOT IN 0% RATED SUPPLIES.
THEY ARE CORRECT OR WRONG SIR,
REGARDS
02 March 2024
They are wrong 0 rated supplies are for exports.
02 March 2024
THANK YOU FOR KIND REPLIES,
SOME SUPPLIERS ISSUE TAX INVOICE INCLUDING EXEMPTED AND TAXABLE SUPPLIES WHILE REPORTING B2B, EXEMPTING SUPPLIES SHOWING IN 0% CLASSIFICATION. IF THERE WILL BE A PROBLEM IF WE REPORTED IN 0% RATED SUPPLIES,
REGARDS
SOME SUPPLIERS ISSUE TAX INVOICE INCLUDING EXEMPTED AND TAXABLE SUPPLIES WHILE REPORTING B2B, EXEMPTING SUPPLIES SHOWING IN 0% CLASSIFICATION. IF THERE WILL BE A PROBLEM IF WE REPORTED IN 0% RATED SUPPLIES,
REGARDS
02 March 2024
Yes, only exports are reported in 0 rated supplies.
02 March 2024
THAK YOU SIR FOR YOUR ALL REPLIES
REGARDS
REGARDS
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
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- LTCG for Assmt year 26-27
- Soyabean hsn code and gst rate
- TDS related Query_Liquidated Damages
- NON- SUBMISSION OF LLP FORM 3
- Free lancer income
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
