Any gst registered regular and composite scheme dealer
1.sales of jewellery some value Rs:90150 /- payment received through on digital mode(credit and debit card).but dealer bank account credit rs:90085/- rs: 75/- debit in bank current account.
2. Confusion of registration dealer purchases of old gold jewellery from the customers.
Question:
1.Above transactions sales of jewellery value Rs:90150/- or90085/-
2. Dealer purchases of old gold jewellery from the customers RCM applicable or not applicable.
Frah Saeed Answered question August 22, 2020
- Sale value will be the invoice value i.e. Rs 90,150, any bank charges will not reduce the value for application of GST.
- Currently RCM is not applicable as the customers are not supplying in the course or furtherance of business. However the proposal of covering same under RCM is under consideration with GST Council.
Team Clearmytax.in
Frah Saeed Answered question August 22, 2020