Tibetan seasonal sweater selling business

This query is : Resolved

choephel (Querist)
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11 August 2017 Our business is buying bulk of different clothes from lala (wholesaler) mostly located in punjab state and sell these clothes at WB states at our marked profit fixed by association. Though there is association but profit will go to individual. Our seasonal business will last only for 4 months from October till Jan . So my queries are 1) wat type of business is our coming under? 2) under wat head we hv to file income tax return if applicable? 3) whether gst is applicable or not? If yes wat is gst rate and since our is seasonal business how about filing quarterly return of gst?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 August 2017 Tel me your turnover to give advice.

choephel

choephel (Querist)
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13 August 2017 Less than 20 lacs but some people hv more than 20 lacs. So please if possible answer in both scenario. And also our resident address is HP n buying clothes at punjab and selling at WB..

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 August 2017 1 This business will fall under trading.
2 If applicable you have to file return under business head you can opt for 44AD and declare 8% profit on turnover.
3 No GST for less than 20 Lacs turnover. More than 20 Lacs turnover GST applicable at 5% for less than Rs 1000 value of each garments.

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