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.
Menu
GST, GST CESS AND ITC COMPONENT
Replies (2)
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
Rama sir,
Kindly tell me what will be my GST Cess and ITC? I am confused in this part.
Recent Topic
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
Related Topics
CAclubindia
