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Purchase of market rate and sales fixed rate

Kollipara Sundaraiah (B.com) (2984 Points)

19 February 2023

A registered jewellery business dealer purchase of jewellery on market rate price and sale of jewellery fixed rate price allowed in gst act.

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2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178099 Points)
Replied 19 February 2023

No restriction as per GST act. Only thing is GST to be charged over sell of the jewelry.

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MPR Sanjay Kumar (3118 Points)
Replied 19 February 2023

@ honourable Dhirajlal Lal rambhia sir please tell me

Query 1. Mrs swetha Jain purchased 2 lakh worth goods from mrs komal preethi Jain ,swetha Jain found RS 50000 goods are defective damages... now she is to returns this defective goods

what is the purchase return journal entry here???

what the preethi Jain makes her accounts of books entry of sales return ?? I need sales return journal entry

Query 2

in income tax of TDS interest on securities and interest other than securities what is the difference between of these two please explain me