Understanding Reverse Charge Mechanism

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Aman Agrawal (Querist)
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15 March 2021 I trade in all kinds of Scrap like Plastic,Iron,Books,Steel etc.
I purchase scrap from local cycle vendors or from household Scrap they are not registered under GST regime. My total purchase per day is Rs.15000 to 30000 daily.

I made sales to big industries were I get the Tax and I paid to the government.
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So my Question is. How to record Purchase ? Right now I am just writing down my purchases in register without raising any bills/Document.
GST rate is 18%. On iron and 5% on books.. how to make Bills on reverse Charge..

Can I make one consolidated bill at the end of the day/week??

But how can I make a consolidated bill when GST rate is different in different items?

Please suggest me some advice.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 March 2021 GST not applicable on your purchases. Account consolidated daily purchase.

Aman Agrawal

Aman Agrawal (Querist)
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09 April 2021 Is GST is not applicable in reverse Charge mode?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 April 2021 GST not applicable on reverse charge mode on such purchases.

Aman Agrawal

Aman Agrawal (Querist)
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09 April 2021 Ok sir thanks alot..
I have one more question..
I made sales to registered dealer as well as unregistered small customers..
Can I make two invoice books 1 for registered dealers and second for unregistered dealers? Or should I have to make only one invoice book ??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 April 2021 You should have only one tax invoice book consequtively numbered.

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