Sales / Reverse Charge
This query is : Resolved
11 August 2020
Sir
I am an unregistered dealer buying goods from registered person with gst.
Q.No.(1): Can I sell the goods after adding margin with the invoice amount to an another unregistered person?
Q.No.(2):Can I sell the goods after adding margin with the invoice amount to a registered person?
If i do so, the receiver should pay gst ON THE TOTAL VALUE OF INVOICE under reverse charge?
If he paid GST under reverse charge, he is eligible for availing ITC?
clear my doubts
thanks in adv
I am an unregistered dealer buying goods from registered person with gst.
Q.No.(1): Can I sell the goods after adding margin with the invoice amount to an another unregistered person?
Q.No.(2):Can I sell the goods after adding margin with the invoice amount to a registered person?
If i do so, the receiver should pay gst ON THE TOTAL VALUE OF INVOICE under reverse charge?
If he paid GST under reverse charge, he is eligible for availing ITC?
clear my doubts
thanks in adv
11 August 2020
1 yes.
2 yes.
3 Reverse charge not applicable.
ITC can be claimed on reverse charge paid.
2 yes.
3 Reverse charge not applicable.
ITC can be claimed on reverse charge paid.
11 August 2020
Answer to 1 and 2 is Yes. RCM will not be applicable.Since there is no RCM applicable there is no question of availing ITC.
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Upload Level ValidationITR3Category of Defect B/D
- Reporting of STCG on Property in ITR
- Not able to file ITR
- ITR-4 vs ITR 5
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
