hi, please help to get this point, we manufactured goods with MRP and sale to the distributors, we get input tax and pay outward liability accordingly. At this point all is good.
After-sale distributors used goods as samples and expiry goods returned to us, we issued credit note to the distributor with gst. Now after the credit note issue we need to reverse input on it or not.
if yes, then how do we calculate reversal input, our purchase is 18 and 12 % and the sale gst is 28%.
Menu
Gst input reversal..
Replies (4)
Are you dealing in pharmaceutical products
U Supply goods with MRP,u collected gst on MRP,u issued credit not,disributer prepare debit note with gst as per ur credit note.No problems.
If a sales depot in manufacturing unit, transfer the same with debit note , issued credit note against u by sales depot.
If a sales depot in manufacturing unit, transfer the same with debit note , issued credit note against u by sales depot.
Since you have received expired products which you will destroy or writeoff ITC will have to be reversed proportionately as per GST rules
Not in pharmaceutical, we are dealing in the beverage.
in the case of sampling, do we also need to reverse the input?
and how do we calculate the input reverse amount?
in the case of sampling, do we also need to reverse the input?
and how do we calculate the input reverse amount?
Recent Topic
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
- Credit against paud RCM on rent
- Dividend difference in 26AS, AIS, TIS
Related Topics
CAclubindia
