Menu
CONSUMABLE STOCK GST
we are in the business of selling ink for printers. in the course of doing business we also use some ink in our premises which is used as demo for showing to our buyers. what should be done to gst taxes
Replies (6)
Nothing to do..... Same is taxable when you sale goods in which such ink is used...
NOTHING TAX TO BE REVERSED ON CONSUMABLE INK WHICH IS NOT SOLD TO CUSTOMERS AND USED IN OUR PREMISES????
there is no need to reverse itc as inputs used exclusively for business purpose.
No u have reverse the ITC as for demo u are not charging anything means u r giving free so as per section 17(5) , itc has to be reverse in proportionate to Free
Not providing free....... Such goods are consumed in taxable goods....
good clarification and information
Recent Topic
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
Related Topics
CAclubindia
