reverse charge
This query is : Resolved
MOHAMMED ASGAR Bhati
(Querist)
16 July 2017
If i am dealing in scrap like iron & corrugated boxes. I want to get registeration under gst. I puchases from unregistered every day and sale to registered person.
For example
I purchased from unregistered Rs. 15000/-
In a day and goods sold to registered person in same day 20000/- and charged 12% tax. How much i have to pay reverse charge mechanism. Can i claim reverse charge which i paid. ????
CA R SEETHARAMAN
(Expert)
17 July 2017
You have to pay 12% gst under reverse charge on purchased from unregistered Rs. 15000/-. ITC on it can be claimed.
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