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Gst sale at less than purchase price.

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accountant
54 Points Posted on 13 May 2017

Sale at less than purchase price allowed in GST?

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On 13 May 2017 at 11:56 Report
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FCA. UK TAX. UK VAT. GST
434 Points Posted on 14 May 2017
Yes its Allowed. Provided the supplier and the recipient are not related and price is the sole consideration for the supply.
Then if price paid is less than purchase price its allowed.
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On 14 May 2017 at 01:35
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FCA. UK TAX. UK VAT. GST
434 Points Posted on 14 May 2017
Source : Section 15 of CGST Act.
1 Reply
On 14 May 2017 at 01:36
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accountant
54 Points Posted on 15 May 2017

seller & byer are not related, what other consideration beside price could be?

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On 15 May 2017 at 11:05
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CEO
27 Points Posted on 07 September 2017
in this case does supplier need to reverse the GST input credit ?
1 Reply
On 07 September 2017 at 14:03
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Student CA IPC / IPCC
214 Points Posted on 16 December 2022
Is GST shall be reversed ??
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On 16 December 2022 at 13:29


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