Dear Sir,
we are Tv manufacturer from Maharashtra. we are selling tv's in govt. tenders in which it had a condition that we need to buy back tv's after 10 years at price we have decided at this time. Please confirm what gst rate will be applicable on the buy back tv????
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GST on buy back item.
Replies (7)
U consider it as your sales return?
We will buy back tv (Sales Return) after 10 years at predetermined price.
If it is of vat period, then i think no need to mention gst on the commercial credit note
just issue commercial credit note
just issue commercial credit note
GST will be applicable on this transaction when you buy back at the price decided as per the agreement. Understand GST is levied on supply. In your case you are selling and then buying it- GST applica
What rate of GST is applicable on buy back item? 28 % or 18 %.
The rate prevailing on the date of buying back ( after 10yrs) on supply of TV's to be considered.
Rate at the time of buy back
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