05 November 2017
My Business is MOBILE RECHARGE DISTRIBUTOR, Weather GST is applicable for my Business or not ?
ex:- IDEA ------ ME --------- RETAILER -------- CONSUMER.
I am Buying the recharge balance from Idea & selling to Retailer
06 November 2017
ex:-I am recharging from Idea ₹1000/-. Idea isgiving to me as a balance of ₹1050/- and again i am sellling to Retailer if he recharges ₹1000/-, i am sending ₹1030/- to Retailer.
for me GST should pay on ₹20/- (or) ₹50/-
06 November 2017
You need to first back-calculate GST on amount charged from retailer that is on Rs.1030; On such amount GST is payable; Likewse you can claim credit of the GST amount charged by IDEA from you.
CAclubindia
