selling nil rated supplies purchased @5%
hemant thakkar (21 Points)
26 June 2017I buy packed and branded rice but sell in retail without any brand.
As unpacked rice is nil rated how to file return for that.
hemant thakkar (21 Points)
26 June 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160342 Points)
Replied 26 June 2017
Only registered branded rice will be taxed at 5%, not all that is available in wholesale market
So, your input will be at nil rate and also output sell
Registered branded rice will be sold in same container...... @ 5%
hemant thakkar
(21 Points)
Replied 26 June 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160342 Points)
Replied 26 June 2017
Practically, we will have to check if the ITC can be adjusted under any other same group items ...........
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