RAW SILK IS EXEMPTED GOODS OR 0 RATED UNDER GST
This query is : Resolved
Quick Summary
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
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- TDS on TRUST
- Putting a heading on received mail
- Regarding Applicability of Tax Audit u/s 44AB
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Withdrawal in cash from partners capital account by partner
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
