How to calculate gst on sale
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 September 2017
Both schems ,,, regular and composition... If purchase price =1000+ 18%+200 = 1380.
If I'll sale . what's amount will collect from buer, if buyer is dealer , plz help me with full examples and details,
If I'll sale . what's amount will collect from buer, if buyer is dealer , plz help me with full examples and details,
17 September 2017
If you are in regular scheme
You have to charge (1000+200)+18% as you take credit of 18% paid on purchase.
17 September 2017
Im composition scheme you have to charge [(1000+18%)+200] as you don't get credit of tax paid on purchase.
17 September 2017
As per regular scheme, A regular dealer purchase goods as follow,
Material Cost - Rs. 1000
GST @ 18% - Rs. 180 = 1180...
Also his expenditure (process/any other) is Rs. 200 ..
Total material value Rs. 1200 + Tax,
If he add profit (10%) on Material Value Rs. 120
Now, the Sales value as follows
Material Value - Rs. 1320
GST @ 18% - 238
Total - Rs. 1558...
After complete the process his Tax liability (238-180) Rs. 58. He ll pay Tax Rs. 58....
Regular can follow above said way....
17 September 2017
As per Composition scheme, A Composition dealer purchase goods as follow,
Material Cost - Rs. 1000
GST @ 18% - Rs. 180 = 1180...
Also his expenditure (process/any other) is Rs. 200 ..
Total material value Rs. 1200 and Tax value Rs. 180 Total Cost Rs. 1380...
After add his profit (10%) 138...
Total material value his hand Rs. 1518...
He sale his material in Bill of Supply Rs. 1518....
Message likes :
1 times
17 September 2017
Composition dealer (trader) pay Tax @ 1%.
1518 * 1% = 15.18 (7.59 + 7.59)...
Message likes :
1 times
17 September 2017
Wrong going RAja.....
17 September 2017
Mam,
What you mean....?
What is wrong my way...? Any reason...
What you mean....?
What is wrong my way...? Any reason...
17 September 2017
Mam.,
Please reply...
You found any wrong in my activities and replies. Please correct if I'm wrong...?
Thank you for the Suggestion...
17 September 2017
If dealer purchase in 1000+18%
& registered in Normal scheme then he get credit of rs.180(18%).
Now you will sale on 1000+200 profit so your sale value is 1200 & tax to be paid on it is 18%.....
17 September 2017
Now if you opt for composition scheme then your cost will be (1000+180)+200 profit. & then you have to pay tax on 1380 @1%
17 September 2017
Madam.,
It's simple...
First of purchase then it's transactions like transport, admin some expenditure after only the dealer add profit.....
17 September 2017
Yes agreed to you on it.
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