inter state sale
fan of sandeep maheswari sande (123 Points)
18 August 2018
a composition person make inter state outward supply
3 Replies
fan of sandeep maheswari sande
(123 Points)
Replied 18 August 2018
in the case, a composition person made interstate supply and recipient receive the bill then what the penalty for that
Vinod Babu
(24196 Points)
Replied 19 August 2018
The composition scheme is only available to GST registrants operating within a single state. And currently paying taxes at a subsidised rate.
As per law, as soon as you make the interstate sale, the composition benefits cease to exist and you are now liable to the standard tax rate.
Now, the total amount payable shall be in accordance with Section 66/67, which would require you to pay higher taxes and a penalty may also apply. All traders must, therefore, be wary before making such deals.
As per law, as soon as you make the interstate sale, the composition benefits cease to exist and you are now liable to the standard tax rate.
Now, the total amount payable shall be in accordance with Section 66/67, which would require you to pay higher taxes and a penalty may also apply. All traders must, therefore, be wary before making such deals.
Recent Topics
- Income Tax Query. Capital gain & section 54
- 26 QB - TDS
- Partner remuneration beyond 40 (b) limits
- How to get Professional Tax refund shown in PTRC I
- No GST on Property Redevelopment If Development Ri
- Guide to Closing Private Limited Company
- BUILDER SELLING CONSTRUCTION PROPERTY
- Anoboy latest website for streaming
- Cash Deals Above Rs 2 Lakh? Now Under IT Radar as
- Partnership Fimr
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
