GST rules on reselling product

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11 Points Posted on 14 July 2020
Hi
Plz let me clear the rules regarding reselling of product. If i bought a product as customer from ecommerce site and resell it on local market adding my profit or resell it on another e-commerce site what will be the rules applied related ro GST. can i tk same
benefit of tax credit for product purchased earlier from e-commerce site. is it legal transaction
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On 14 July 2020 at 04:54 Report
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Quick Summary
This discussion clarifies the Goods and Services Tax (GST) rules for individuals reselling products bought online. It confirms that you can indeed claim Input Tax Credit (ITC) on products purchased for resale, provided you adhere to standard ITC regulations. The applicable tax rate for reselling will be based on the new rates for the specific goods being sold.

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4215 Points Posted on 14 July 2020
Yes no doubt
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On 14 July 2020 at 06:41
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"Do the Right Thing...!!!"
128157 Points Posted on 14 July 2020
Product - all goods can be define as product.

So, Ask Your query with details...
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On 14 July 2020 at 07:57
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11 Points Posted on 14 July 2020
Like cloth, cloth accessories, mobile accessories and mobile
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On 14 July 2020 at 08:19
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"Do the Right Thing...!!!"
128157 Points Posted on 14 July 2020
Yes... You can take ITC as per ITC rules.
Tax rate as per New goods rate is applicable to reselling products as per above said items...
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On 14 July 2020 at 08:30
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1102 Points Posted on 14 July 2020
Yes, You can take credit
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On 14 July 2020 at 10:03
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4 Points Posted on 28 September 2021
What is the tax rate to non-gold jewellery and accessories. plz
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On 28 September 2021 at 09:30

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