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Purchase return by composition dealer

Ram Ratan Mandan (Proprietor) (26 Points)

20 December 2017

a dealer purchase goods in june17 and return the same in sept17 what will be tax liability for him?

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Ravi SADhiyan (Practice) (4510 Points)
Replied 20 December 2017

Originally posted by : Ram Ratan Mandan
	a dealer purchase goods in june17 and return the same in sept17 what will be tax liability for him?

Under Composition Tax Liability arise on Tax Value

For Example

If Ur sale 100,000/- than U required to pay tax 1000/-

In your case you issued Debit Note to Seller

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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 20 December 2017

How to give debit note the purchase in VAT regime...?

Anisha (Finance) (69 Points)
Replied 21 December 2017

The goods he will return to be treated as sale and GST to be charged.

Ravi SADhiyan (Practice) (4510 Points)
Replied 21 December 2017

Originally posted by : RAJA P M
	How to give debit note the purchase in VAT regime...?

Debit Not raised in GST regime at the applicable rate on that items becuase Registerded dealer Under RCM declare Stock details on 01st July'17 if he is not raised Debit note than stock show in ledger

Ravi SADhiyan (Practice) (4510 Points)
Replied 21 December 2017

Originally posted by : Anisha
	The goods he will return to be treated as sale and GST to be charged.

Yes

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JEEVIKA AND CO (PROPRIETRIX) (153 Points)
Replied 21 December 2017

Composition dealer can't charge GST...

Compition Dealer can't get ITC....

Composition dealer Can give debit Note given Full Value as per his BOS

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Anisha (Finance) (69 Points)
Replied 21 December 2017

Yes, Since he is composite Dealer he cannot charge GST.

JEEVIKA AND CO (PROPRIETRIX) (153 Points)
Replied 21 December 2017

Debit Note : Debit Note means "Purchase Return" it's contain as per reference bill's (purchase Bill) related details only available. If Purchase bill is VAT Bill then we will be create Debit Note as VAT bill. If it's GST bill then we can debit GST bill....

So,

In current regime we will give Sales Bill nstead of VAT related Purchase return...

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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 21 December 2017

Originally posted by : JEEVIKA AND CO
	Composition dealer can't charge GST... Compition Dealer can't get ITC.... Composition dealer Can give debit Note given Full Value as per his BOS

Yeah Very well said JEEVIKA AND CO...

1 Like

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 21 December 2017

Originally posted by : JEEVIKA AND CO
	Debit Note : Debit Note means "Purchase Return" it's contain as per reference bill's (purchase Bill) related details only available. If Purchase bill is VAT Bill then we will be create Debit Note as VAT bill. If it's GST bill then we can debit GST bill.... So, In current regime we will give Sales Bill nstead of VAT related Purchase return...

Also very nice replied... I appreciate You... KEEP IT UP...

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mudit gupta (CA) (330 Points)
Replied 22 December 2017

if composition dealer is not mentione gst in bill ie. bos seller how can take itc

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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 22 December 2017

Originally posted by : mudit gupta
	if composition dealer is not mentione gst in bill ie. bos seller how can take itc

Yeah... Nice question... The regular dealer can prepare Credit Note as per his sales Invoices...

1 Like

Ravi SADhiyan (Practice) (4510 Points)
Replied 22 December 2017

Originally posted by : RAJA P M
	Originally posted by : mudit gupta if composition dealer is not mentione gst in bill ie. bos seller how can take itc Yeah... Nice question... The regular dealer can prepare Credit Note as per his sales Invoices...