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Regarding clarification on 1st stage & second stage dealer

hanuman sahni (Student CA Final ) (28 Points)

24 February 2016

We Have purchased goods from consignee let me know whether we are 1st stage dealer or second stage dealer

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CMA Poornima Madhava (CMA) (13112 Points)
Replied 24 February 2016

I Stage dealer means a dealer, who purchases goods directly from manufacturer or importer or from the depot of an importer or from the premises of the consignment agent of importer, under cover of an invoice. So if such goods were purchased by you from the consignee being agent of importer, then you shall be 1st stage dealer
II stage dealers means a dealer who purchases goods from 1st stage dealer.

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