Dear All,
This question may seem rubbish. but is there any implication in GST Rules regarding selling at no profit/no loss?
Suppose I bough Product A for Rs.100/- (incl of all taxes)
1)Can i sell it at Rs.100/- with out considering the profit margin (no quality loss)
2)Can i sell the same product at less than Cost price?(if product has become outdated)
Can any one have your views.
1. Yes to both.
2. There is no binding clause under GST on price to be sold........ its your own business...
3. If it is your regular habit, CTO may order for special audits.
@ Dhiraj lalji... @ Pankaj Rawat Ji.. Thanks for your valid views.
@ Rajbir Yadav..I will refer the Section 15.
CAclubindia
