05 April 2021
SIR- I am a trader registered under GST. I plan to buy a material from Unregistered Person for Rs.43,800/-. Actually, He had purchased that material in the last year with gst invoice (18%) for his own use and he had paid Rs.41,570/- including GST Rs.6,342/-. Now he is ready to sell it with some margin i.e Rs.41,570 + 2500 = Rs. 43,570/-.
In case if I buy it, Should I pay GST on Rs.43,800/- (i.e) Rs. 7,884/- at the time of my sale?
05 April 2021
Yes, you will be paying GST at the Time of Sale on your selling price. Further, no need top pay any GST on the purchase made from unregistered dealer under reverse charge.
CAclubindia
