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Tax rate applicable

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(Querist)
03 August 2019 A registered composite dealer trading of jewellery business.
Selling of jewellery value rs.40000 to customer. Gold received from vaule rs.15000 same customer.tax applicable rs.40000 or 25000 value.
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CA Anita Bhadra

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CA Anita Bhadra (Expert)
03 August 2019 Tax will applicable on Rs 40000/-

As per Sec 15(III) of Act , tax will be applicable on sum total of consideration
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kollipara sundaraiah

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kollipara sundaraiah (Querist)
04 August 2019 gold received from customer value rs.15000 treated purchases from un registered
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CA PARTH SHAH

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CA PARTH SHAH (Expert)
07 August 2019 Sales booked in the books of account is Rs 40000. Hence gst to be paid in 40000

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