Sir,
Gst works contract registered The party supply of crusher another registered partly(construction party).
Rs. 35000 buy and sell₹ 43000.
Rs. 35000(includes gst 5%)
Rs. 8000 (includes profit& transportation charges)
How gst return calculated?
GST Invoice will be as follows :-
Taxable Value- Rs. 40952.38
GST- Rs. 2047.61
Total Value- Rs. 43,000/-
At, the time of paying GST amount of Rs. 2047.61 can be adjusted through ITC of Rs. 1666.65 (paid to buyer from Rs. 35000/- good purchased)
Finally, You have only pay GST of Rs.2047.61- Rs. 1666.65= Rs. 380.96
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
