Scrap dealer retail
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 October 2017
I am a retail scrap dealer.we take iron in small quantities from open market with the bill amounts usually ranging from 100 to 10000rs. Then we supply them to the mill. Gst on iron Scrap is 18%. How do I set up my system for Gst?In the case of scrap, goods are produced from houses(scrap cycles to iron furniture)and mill is the last stage . The whole process is inverted. How would Gst work for me? Would I have to give bill even for a purchase of 100rs. Please give details in cases turnover less than 1.5cr.and more than 1.5cr.
14 October 2017
Your query is two answer ( before and after 22nd GST Council meeting)
Before Meeting :
As per sec 9(4) your purchases from URD. First You ll be pay tax under RCM then take it as ITC.
Also you ll sell your goods to your customer (mills) with Tax if you are registered dealer...
After meeting:
the sec 9(4) is suspended from 01st October. So, You can't pay tax under RCM from the purchase of URD.
Also you can sell it Customer with Tax...
Before Meeting :
As per sec 9(4) your purchases from URD. First You ll be pay tax under RCM then take it as ITC.
Also you ll sell your goods to your customer (mills) with Tax if you are registered dealer...
After meeting:
the sec 9(4) is suspended from 01st October. So, You can't pay tax under RCM from the purchase of URD.
Also you can sell it Customer with Tax...
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