if regular dealer purchase material from composition scheme holder dealer , then regular dealer need to pay reverse charges on purchase value?
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Is tax liability for purchase from composition
Replies (19)
Yes. You compute GST as if you are supplier of goods/service and take credit.
| Originally posted by : Subhash Kalambe | ||
 |
if regular dealer purchase material from composition scheme holder dealer , then regular dealer need to pay reverse charges on purchase value? |  |
No need pay Tax under RCM basis for purchased from Composition Dealer. Bcoz, He is one of the Registered Dealer...
RCM applicable only received from URD and Notified supplies...
| Originally posted by : RAMESH KUMAR SINGLA | ||
|
Yes. You compute GST as if you are supplier of goods/service and take credit. | |
Dear RAMESH KUMAR SINGLA Sir.,
What is your reply...Sir?
I think you are wrongly replied here for another query ans...!!!
yes I agree with Raja p m but it's better to avoid purchases from composition dealer
if you have purchased it from composition dealer you will suffer loss
@ g mahesh Mundra no need to avoid purchase from composition dealer. The but in fact they can provide Raw material a comparatively low cost than regular dealer. As they are not liable to levy of tax at GST rates.
yes I agree for production purposes may be but in retail where the seller have 10% margin may avoid
Any supply from Composition dealer No RCM
I agreed with Mahesh mundra.,
A regular dealer better to avoid purchase from Composition dealer...
Bcoz,
The regular dealer loss his ITC...
A regular dealer better to avoid purchase from Composition dealer...
Bcoz,
The regular dealer loss his ITC...
why loss of ITC if goods are purchased from Composition dealer?? Anyways he's not going to charge GST, as he is not supposed to. So on that purchase we don't pay GST & we don't claim ITC. So whats loss in this???
are you registered under GST as a regular dealer mr Bhargav Varma
You are correct Mr. Raja. My mistake.
| Originally posted by : Bhargav Varma | ||
|
why loss of ITC if goods are purchased from Composition dealer?? Anyways he's not going to charge GST, as he is not supposed to. So on that purchase we don't pay GST & we don't claim ITC. So whats loss in this??? | |
Dear Bhargav varma...,
Please explain the process by C/D...
How is he sell his goods with add the others ex and Profit ...?
Then I'll give you the explanation for loss of ITC...
a regrd person will not buy goods from compostion dealer bcoz the cost of goods would be higher for him....rather he would buy it from regrd person and avail the itc on that goods
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