Respected sir,
Thank you for the info. My query is - i am doing less than 20 lac /year / trading in Chennai. Kindly correct my understanding.
If I buy from a registered dealer - I have to pay Gst ( suppose 100 Rs ill means -- 100 +18 %= 118 Rs )
This Tax paid is down the drain for me .
I will bill to my vendor 118 Rs with no other tax -in case I sell at no profit.
If I buy from a non registered dealer I just get bill.
I need not submit any form to GST .
Is this correct?
Kindly help me.
CAclubindia
