Gst calculated on which amount?

V.Raghunadh

Practicing Advocate and Corporate Consul

202 Points Posted on 29 July 2017

In my opinion, as far as the GST logic is concerned, the gold trader has to pay GST, on gold jewellery taken from customer, on RCM basis and can avail ITC on the sale of gold jewellery to customer.

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 29 July 2017

Give tax on margin u/s 32(5)

sunil kumar sharma

jr accountant

708 Points Posted on 29 July 2017

50000/-

Srinivasan Chokkanathan

199 Points Posted on 30 July 2017

Customer to pay GST at 3% on 50000

Srinivasan Chokkanathan

199 Points Posted on 30 July 2017

Customer to pay GST at 3% on 50000

raj waghadkar

proprietor

44 Points Posted on 30 July 2017

Thanks
In d return I have to show taxable amount i. e. 50000/- but invoice value would be 20000/-
Am I right?

Srinivasan Chokkanathan

199 Points Posted on 30 July 2017

No. Outward supply 50000. Paid for purchase 30000 which is separate and no rcm is payable on it as the customer is not a unregistered supplier.

raj waghadkar

proprietor

44 Points Posted on 30 July 2017

OK Thanks

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Gst calculated on which amount?

raj waghadkar

V.Raghunadh

CA Rashmi Gandhi

sunil kumar sharma

Srinivasan Chokkanathan

Srinivasan Chokkanathan

raj waghadkar

Srinivasan Chokkanathan

raj waghadkar

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