Suppose "ABC" is an unregistered co-operative society.
Another co-operative society "XYZ" is registered under GST.
"XYZ" purchases a taxable product/machinery from "ABC".
In light of the above points, please clarify as follows:
1) Is this transaction liable to GST, 2) If yes, which society is responsible to pay GST, 3) If "XYZ" (registered society/buyer society) is responsible to pay GST in this case, how should it treat this transaction in its books of accounts Thanks.
25 April 2022
1. Depends upon the value of transaction and liability of ABC to register under GST. 2. ABC should charge it under invoice. 3. As per invoice value including GST.
CAclubindia
