dear respect sir
I am engaged to jwellary shop business
my question is suppose i sale a jwellary to customers and take gst on this sale value.
after 6 months that customer come to my shop and sale same jwellary to me then
what is rule on gst
how to record this transaction
what type of invoice raised
Sale of jewellery to customer is Output GST and your business liability to pay tax collected.
Customer selling the same jewellery back will not have a GST impact (RCM will not be charged) as individual is not collecting GST for sale.
Both transactions are separate even when recorded under same customer head.
CAclubindia
