A registered Taxpayer purchased Corporate Gift Card issued by Bank Of India against Bill of Supply with no gst on it. Futher he sold the same to unregistered person against Bill of Supply with no GST. Now while filing GSTR1 where we have to mentioned this supply - Exempted / Nil Rated / Non GST. Kindly help....
13 Replies
Chethan Chethan
(42 Points)
Replied 10 February 2018
bcoz nil rate means as exporter nil rate of tax, non gst means unregisteration person, exempted means composition person,
Mondira Saha
(GST)
(3925 Points)
Replied 10 February 2018
its non gst supply ...
you cant avail ITC if you avail then you have to reverse it
you cant avail ITC if you avail then you have to reverse it
Mondira Saha
(GST)
(3925 Points)
Replied 10 February 2018
its non gst supply ...
you cant avail ITC if you avail then you have to reverse it
you cant avail ITC if you avail then you have to reverse it
Mondira Saha
(GST)
(3925 Points)
Replied 10 February 2018
in exporter case that is zero rated supply not nil rate
Mondira Saha
(GST)
(3925 Points)
Replied 10 February 2018
in exporter case that is zero rated supply not nil rate
C.L. RAVIKUMAR
(GST / Vat Practitioner & book keeping)
(209 Points)
Replied 11 February 2018
sir please help me to understand what is the DIFFERENCE NIL RATED , EXEMPTED AND ZERO RATED
Chethan Chethan
(42 Points)
Replied 11 February 2018
how can possible non gst supply, non gst means urp but they have registered in gst so can't
Mondira Saha
(GST)
(3925 Points)
Replied 11 February 2018
exempted supply- means supply of any goods / services which attracts nil rated , or wholly exempt in GST
Mondira Saha
(GST)
(3925 Points)
Replied 11 February 2018
zero rated supply- means supply to goods/ services as export.. or supply to SEZ
non gst - on supply gst not applicable
non gst - on supply gst not applicable
Mondira Saha
(GST)
(3925 Points)
Replied 11 February 2018
exempt supply- can change any time by notification from gov ( circulars)
Abhishek jain
(delhi)
(27 Points)
Replied 05 March 2019
If we are selling these gift cards to another registered person by taking a 1% margin over the purchase price then on the margin, we have to pay GST?
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