HI,
What is the GST implication if a sale happens on a loss for a transactions. For Ex, if I buy goods worth 100 rupees from a party called X and Via Direct shipping sell it to a party Called Y for 90 Rs . Just to honour My commitment of supply even though I am suffering loss I have to sell it. What would be GST implication in this transactions. Lets Say IGST is 28%, My Input IGST would be 28 Rupees, wheras My output IGST would be 25 Rupees, So can I claim the 3 rupees GAP in my inward purchase and can this be adjusted against other payable Output IGST. Please advise
CAclubindia
