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Gst queries
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)
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.
Composite dealers has nothing to do with GSTR-1, GSTR-2, GSTR-3. They just had to file GSTR-4 on quaterly intervals
Pl refer attached FAQs on composition levy.
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.
2. Only GSTR-4 has to be filed quarterly, no requirement to file other GST returns like GSTR -1&2.
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.
2. Only GSTR-4 has to be filed quarterly, no requirement to file other GST returns like GSTR -1&2.
Share GST INVOICE COPY and GST Return fromat monthly
tku for your reply sir
regards
tku sir for your reply
regards
tku sir for the information
regards
tku mam for your reply
regards
Need clarification on the following also. Pl reply
What is black credit. Why the supplies/services mentioned under this, coming under black credit?
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?
Read more at: /forum/gst-queries-402220.asp
Read more at: /forum/gst-queries-402220.asp
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