Purchase of market rate and sales fixed rate

A registered jewellery business dealer purchase of jewellery on market rate price and sale of jewellery fixed rate price allowed in gst act.
Replies (2)
Quick Summary
This discussion clarifies GST regulations for jewellery businesses purchasing items at market rates and selling them at fixed prices, confirming no GST restrictions apply as long as GST is charged on the sale. It also addresses journal entries for purchase and sales returns of defective goods and explains the difference between TDS on interest on securities and other interest under income tax law.

No restriction as per GST act. Only thing is GST to be charged over sell of the jewelry.

@ honourable Dhirajlal Lal rambhia sir please tell me


Query 1. Mrs swetha Jain purchased 2 lakh worth goods from mrs komal preethi Jain ,swetha Jain found RS 50000 goods are defective damages... now she is to returns this defective goods

what is the purchase return journal entry here???

what the preethi Jain makes her accounts of books entry of sales return ?? I need sales return journal entry



Query 2

in income tax of TDS interest on securities and interest other than securities what is the difference between of these two please explain me

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