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GST Margin Scheme

Deepali (1 Points)

25 August 2021  
I have a client who is dealing in second hand laptops it purchases laptops from unregistered individuals and after small modification/repairs sell to individuals/dealers.
If anyone has invoice format for margin scheme dealer please share
and please also guide how to account for gst

 2 Replies

prasad Nilugal (Sr . Accountant and GST Practitioner . )   (7011 Points)
Replied 25 August 2021

GST applicable on Margin value ( sales - purchase ) , for second hand goods , where the input tax credit has not been taken earlier on purchased goods . refer Rule 32(5) of the CGST rules 2017 .
For Invoice format you have to refer Rule 46 of the CGST rules 2017 .
please confirm with others also .
2 Like

Deepak Kumar (712 Points)
Replied 26 August 2021

Aggree with prasad ji nd invoice format you have refer Rule 46 of the cgst act 2017 and section 31 of the Cgst act 207
1 Like

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