Intermediary service
This query is : Resolved
27 April 2018
A is facilitator to procure material 100000+5000 = 105000 ( 5% GST ) from B and delivered to us. A has raised invoice to us with charging markup 7000 ( 7% ). We have doubts in this scenario.
1. They have charged GST 19260 ( 18% of 100000 + 18% of 7000 ). Is this right.?
2. They have charged GST 6260 ( 5% of 100000 + 18% of 7000 ). Is this right.?
Kindly let me know, which option is right. option 01 or option 02.
1. They have charged GST 19260 ( 18% of 100000 + 18% of 7000 ). Is this right.?
2. They have charged GST 6260 ( 5% of 100000 + 18% of 7000 ). Is this right.?
Kindly let me know, which option is right. option 01 or option 02.
27 April 2018
A has to raise invoice to you with charging markup 7000 ( 7% ) with 18% GST on 7000.
Message likes :
1 times
27 April 2018
Dear Sir, GST vendor has to pass on the ITC benefit to the customer under anti profiteering. So in my views option 02 is right. Kindly clarify if i am wrong.
27 April 2018
B has to raise tax invoice directly to you.
27 April 2018
Most welcome...............
27 April 2018
B will charge 5% and take tax invoice stating 5% gst charged. from B, Take separate tax invoice stating commission with 18% gst provided that he is acting as mere facilitator. if he is selling you goods as PRINCIPAL, then 5% will be charged.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
