We have purchase goods in CST @ 2% due to some reason material is not sold. We are returning to vendor today 15.01.2019.
Please guide in GST what is the procedure.
3 Replies
CA. Kuna Mohanty
(Sr. Manager (Finance) MMTC Limited )
(55 Points)
Replied 15 January 2019
Goods (on which taxes were paid under the previous regime) returned by a registered buyer will be treated as ‘Deemed Supply’. GST has to be paid on this by the person returning the goods. Therefore, charge the applicable GST and return the goods.
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