I want to know about casual dealers.
1)Is ITC available for casual dealers if they purchase goods or services from registered person??
2)Advance payment of tax is compulsory for casual dealer.. How we calculate their liability of advance tax?
3)how we initiate first transaction from its home branch? On issue of voucher or raised IGST tax invoice?
Please share your views on this... Because Act and Rules doesnt have any clarity about this.
Thank You.
CA Matin Mansuri
9712222194
(Ahmedabad)
Menu
Casual Dealer
Replies (9)
Dear sir, Yes ITC is availabe, if they pur goods in the state in which they are casually reg, they can avail CGST and SGST as ITC.
Advance tax is to be deposited on estimate basis.
How we calculate the estimated tax? On which value? Please describe
The Value of goods you have for sale, calculate tax on that approx.
& what about my 3rd question?
3rd Q Not understood clearly.
Home branch is in maharastra and taken casual dealer number in gujarat. Now we have to take goods from home branch to gujarat for show display.. How can we transfer that goods from maharastra to gujarat? With tax invoice or challan or something else?
Yes in my opinion you will have to issue a tax invoice from one branch & charge IGST and the other branch will take credit of IGST.
Ok thank you so much
Yes..tax invoice will be issued
Recent Topic
- 194JB INCOME
- Filing ITR3 where income under section 44AD with L
- What is superannuation fund
- GST Refund of input services under Inverted Duty S
- Dividend Reporting
- Real operational bottlenecks after firms use Tally
- Purchase return under gst
- Long Term Capital Loss - cannot be carried forward
- Cross-utilization of ITC between Trading and Resta
- Form 121 eligibility for non deduction of TDS for
Related Topics
CAclubindia
