I am looking for expert advice on handling a specific GST concession scenario involving three parties:
1. Manufacturer (my supplier)
2. Trading Company (my company)
3. Merchant Exporter (my customer) who will export goods to his overseas end customer.
My concern is supplying goods to the merchant exporter at a concessional GST rate of 0.1% for exports. My profit margin doesn't support purchasing goods at 18% GST and selling at 0.1%, then waiting for a refund.
Is it possible to purchase goods from the manufacturer at 0.1% GST and then sell to the merchant exporter at 0.1% GST? If so, what steps and documentation are required to execute this correctly and ensure safe trade?
I am seeking genuine advice to promote my products and services in the global market.
Thank you!
Registration Threshold https://cleartax.in/s/gst-registration-limits-increased Sec 22 of GST Act specifics that entities involved in supply of goods AND services to its members below Rs. 20 Lacs per annum can skip GST registration and not charge GST. For TOA, the sum total of all services provided to members / owners is 2.67 Cr per annum (Rs. 4 * 558000 * 12) and we are ten times over that limit.. Hence cannot avoid GST on that account. Rs. 40 Lacs per year limit is only for those who supply only goods and have zero services. TOA does not fall under that category. Is the above understanding of TOA correct?
Application of Cancellation of Registration was Rejected by the Proper Officer after 6 months What is the remedy as the portal is asking to file Reurns with Late Fees
In the case of bill-cum-supply rule no. 47 is still pplicable, and penalties for not providing a bill-cum-supply, similar to tax invoices, are still applicable= 20,000 per invoice.
Dear Tax Experts,
We gave an order to a service provider related to our office wall painting work. They finished the work and gave us a bill without GST, but he has a GST Registration number, and he has also mentioned the GST number on his bill, but he has not included the tax value.
Which is the correct way under GST - receiving a bill without GST or with GST tax, and what will happen in the future if we receive a bill without GST?
My client's GSTIN was cancelled suo moto during 2019. Now, he wants to revise the same. Whether he can revise it or should he apply for a new registration ?
I have applied for the Cancellation of My GST Registration in Oct-2023 .
The GST Officer has neither canceled my Number Nor Rejected my application.
He has suspended my Account. On Continuous follow up he rejected My Application on 23-05-2024
Now Received Notices to file pending Returns
How to apply again for Cancellation Application again .
Will have to file pending returns with late fees?
Please help
Dear Experts
My exempt turnover above 40 Lacs, Then need to GST registration ?
Sir
we(proprietorship firm) are doing job work for a Company and our turnover approximately Rs 1.20 cr yearly. Company pays our bills twice in a month.
Now that Company insist us to issue e-invoice while we are issuing a single invoice(manual) in a month and working only for that Company. We are not interested for e-invoicing.
Is it possible to avoid e-invoicing ?
please suggest
Sir/Mam,
Painting Business daily small bills issue turnover Rs. above 5 Crore, they are not issuing einvoice, manual invoice.
My doubt they generate einvoice for small bills also or uploading once all invoices in one time
What is the time limit to upload all invoices for einvoice generation
Previous account person september to till date not generated einvoices now we have to upload einvoices once all if any penalty arise. please clarify my doubts
Thanking you,
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
Seeking Expert Advice for GST Concession on Export Transactions