My company is selling goods on credit basis (to more than 10 persons)with the condition that immediately after the collection of the sale proceeds he will remitted/deposited the cash at the cash counter of the company on the same day or on the next day. Actually we are raising the TAX INVOICE ON HIS OWN NAME (total invoice value in from July 2017 is Rs. 5197272 for one person) and he is after the sales collection deposited the same on the sales or cash counter i.e. THE FULL INVOICE AMOUNT. We are also reimbursing the actual exp. in the course of affecting the sales.
Now my question on the matter is as follows.
- Is this activity by the company and the selling person are covered under the agent and principal relationship?
- If the transaction is covered under GST then please tell me who will raised the invoice for commission i.e. the company or the agent CHARING THE GST and at what rate.
- If the selling person is an unregistered person then the same will covered in RCM under GST or not?
- And with this fact that I am providing the selling exp. And also deducting TDS u/s 194c will THIS affect my accounting under GST law?
- My VERY IMPORTANT QUESTION IS that is this transaction attracting the provisions of the GST law from any angle or not? THEN PLEASE ELABRATE.
CAclubindia
