Gst queries

433 views 11 replies

K MOHANDAS

Proprietor

32 Points Joined July 2017

1) A recipient is under composition scheme. He is purchasing product from unregistered supplier or a supplier who is also under composition scheme. Whether the recipient has to pay tax under RCM? 2)Suppliers who are under composition scheme has to submit the return quarterly, 18th of following month. The supplier might have received supplies with tax. The supplies received will be auto populated by GSTR1 . Whether the supplier has to verify the GSTR2 every month in this case? If yes if the supplier is also under composition scheme he will submit the return only quarterly and on 18th. Then how to verify it? 3) What is black credit. Why the supplies/services mentioned under this, coming under black credit? 4)Recipient who is under exemption for his supplies purchasing product with tax. Is there any provision to take ITC and get back that amount? There is no MRP here after. If I am buying a paste what will be the rate printed on the package?

Replies (11)

Kunal Pansari

Accountant

1037 Points Joined March 2014

Since both the buyer and seller are under composition scheme, RCM thing will not apply here. But one important thing that a composite dealer cannot sell outside his state.

Kunal Pansari

Accountant

1037 Points Joined March 2014

Composite dealers has nothing to do with GSTR-1, GSTR-2, GSTR-3. They just had to file GSTR-4 on quaterly intervals

P C Agrawal

Registered independent director Past Ch

8229 Points Joined March 2007

Pl refer attached FAQs on composition levy.

Poonam Bansal

fresher

32 Points Joined August 2013

1. RCM will not apply since dealer is under composition scheme.
2. Only GSTR-4 has to be filed quarterly, no requirement to file other GST returns like GSTR -1&2.

Poonam Bansal

fresher

32 Points Joined August 2013

1. RCM will not apply since dealer is under composition scheme.
2. Only GSTR-4 has to be filed quarterly, no requirement to file other GST returns like GSTR -1&2.