GST, GST CESS AND ITC COMPONENT

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Director
23 Points Joined February 2025

Hello Sir/Mam, 

I am a reseller for used empty old gunny bags. I am confused that what should be my GST, GST CESS and ITC if I sell 8000 bags for Rs 23 one bag.

Kindly help me out with the confusion. 

Thank you. 

 

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On 08 February 2025 at 19:09 Report
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Master in Accounts & high court Advocate
9037 Points Joined December 2011

To determine the GST, GST Cess, and ITC for your sale of used empty old gunny bags, we'll consider the following: GST Rates and Classification Used empty old gunny bags are classified under HSN code 6305, attracting a GST rate of 5%. GST Calculation To calculate the GST: Total Value = Number of Bags × Price per Bag Total Value = 8000 bags × ₹23/bag Total Value = ₹184,000 GST = Total Value × GST Rate GST

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On 09 February 2025 at 15:44
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Director
23 Points Joined February 2025

Rama sir, 

Kindly tell me what will be my GST Cess and ITC? I am confused in this part. 

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On 10 February 2025 at 07:59


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