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gst on exchange
a TV is costing 24000. if we exchange a old TV for it, new TV will be given for 20000. my question is will exchange of old TV will be treted as purchase by new TV suppliers, so he have to gst on that or exchange of old TV will be treated as consideration in kind so no gst will be applicable on old TV purchase , open market value of TV is known at time of sale
Replies (4)
even if he considers old TV as purchase, then supplier don't have to pay GST on it as there is no GST on purchase from unregistered dealer.
In either case you have to charge GST on value of new TV only and nothing is to be done for purchase of old TV
In either case you have to charge GST on value of new TV only and nothing is to be done for purchase of old TV
The GST will charge on without exchange value ie on 24000/-
Book the old TV as purchase from URD .
or
make bill as per below
I assume MPR is 24000/- for TV
Cost New TV. Rs. 18750
Add : GST 28%. Rs 5250/-
Total. Rs. 24000/-
Less : Old TV. Rs. 4000/-
Net Total. Rs. 20000/-
Book the old TV as purchase from URD .
or
make bill as per below
I assume MPR is 24000/- for TV
Cost New TV. Rs. 18750
Add : GST 28%. Rs 5250/-
Total. Rs. 24000/-
Less : Old TV. Rs. 4000/-
Net Total. Rs. 20000/-
if the consumer is registered dealer than what
consumer is registered dealer then he will have to charge GST for sale of TV and this will be an B2B transaction
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