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Agriculture

20 December 2019

our company register in gst and our business is selling seeds of vegetables and flowers..so can be avail tax benefit under section 10

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8 Replies

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 22 December 2019

No......................

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SUMIT BADYAL (709 Points)
Replied 23 December 2019

Please tell me why???

CMA M.Keerthi chandra (C.A FINAL STUDENT AND QUALIFIED C.M.A) (561 Points)
Replied 23 December 2019

For taking the benefits of Sec 10, you have to the restrictions mentioned there in like wise your Turnover should be with in specified limit (presently it is 1.5 Cr) and you are not allowed to make Interstate Supply though you may purchase..like this they go.

If you satisfy all these you can go for it.

Also you have mentioned that you are already registered.If in this case if you are in regular dealer at present there is a form under series of CMP to submit online to opt for composition scheme in which you will be prompted to mention your closing stock details as on the date of conversion

SUMIT BADYAL (709 Points)
Replied 23 December 2019

We have gst no but over turnover is below 1.5 so we file quartly return....we grow seed and sell which is exempt..so we come under section income or not.. second is that can we avail input tax credit on purchase.... third can we charge shipping charges with gst on sale invoice... please clear my doubt...

CMA M.Keerthi chandra (C.A FINAL STUDENT AND QUALIFIED C.M.A) (561 Points)
Replied 23 December 2019

If you are a composition dealer , you cannot avail ITC.

Also you cannot collect tax on any kind of supply.' Composition dealer-not liable to collect tax'.This matter should be displayed on Board at your premises.

You can not issue tax invoices.But only 'Bill of Supply"