Ours is a GST registered Pvt Ltd company engaged in Manufacturing of toothpaste. One of our client wants to manufacture his toothpaste under P2P basis by supplying some of packing materials i.e. empty tubes and cartons under bill to ship to system. They will order those packing materials wherein we will be recipient of packing material and He will be buyer for that. Now what are the things we should taken care of under GST?. Do we require to maintain separate records for that? Do we need to mention in our monthly 3B return?
2 Replies
CA Sachin M Jain
(CA | GST | Refunds | Advisory | Litigation)
(1337 Points)
Replied 19 August 2020
You will have to separately mark those items.
You need not report those in your GSTR 3B as it's not ur purchase.
However, value of supply needs to be assessed as per GST rules subject to the terms of contract.
For further clarification contact -
CA Sachin M Jain
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You need not report those in your GSTR 3B as it's not ur purchase.
However, value of supply needs to be assessed as per GST rules subject to the terms of contract.
For further clarification contact -
CA Sachin M Jain
#Stayconnected #stayupdated
Mobile : 8097515447
WhatsApp : tinyurl.com/wCASMJ
Email : casachinmjain @ gmail.com
LinkedIn : tinyurl.com/LCASMJ
YouTube : tinyurl.com/YCASMJ
Twitter : tinyurl.com/TCASMJ
Jatin Bhatt
(Professional Consultant)
(30 Points)
Replied 12 September 2020
Dear SIr,
Ours is a GST registered Pvt Ltd company engaged in Manufacturing of toothpaste. One of our client wants to manufacture his toothpaste under P2P basis by supplying some of packing materials i.e. empty tubes and cartons under bill to ship to system. They will order those packing materials wherein we will be recipient of packing material and He will be buyer for that. Now what are the things we should taken care of under GST?. Do we require to maintain separate records for that? Do we need to mention in our monthly 3B return?
In the above case please clarify following two issue:
[1] Should our customer must issue us Tax Invoice for this transaction?
[2] Can our Customer claim ITC on such transactions without litigation?
We will reduce out cost of toothpaste to the tune of packing materials supplied by out Customer under Bill To Ship To transactions.
Thank you in advance
Jatin Bhatt
9825667775
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