Where a second hand dealar , who satisfy the conditions of GST margin scheme rule 6(5) , -
Has a total sale receipts is Rs 1 crore in a FY. and make a margin (gross profit) of Rs 15 lakh
In that case , for Secondhand goods value of supply is 15 lakh according to
Rule 6(5) of "Determination of Value of Supply"
Read more at: https://www.caclubindia.com/articles/gst-impact-on-second-hand-goods-industry--30386.asp
Read more at: https://www.caclubindia.com/articles/gst-impact-on-second-hand-goods-industry--30386.asp
The question is Whether Dealar is liable to get registered under GST or not ?? , Because value of taxable supply is below 20 lakhs ??
Plz reply
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