When reverse charge applicable.
1 If registerd person sale good to unregistered person
2 if any jwellers which is unregistered and purchase old jwellery and exchange old jwellery with new then how can deal in gst
3 sAme above case in composite schem
1. If Reg dealer sells goods to unregistered person, he needs to collect GST on same. No RCM implication on that.
2. Since the said transaction is Exchange and Supply includes Exchange, same is liable to GST. The value of supply should be considered as market for determining GST.
3. Composition scheme can be availed as it is not a supply of service. You are not expected to collect GST i pon sales but, need to pay as a percentage on TO. This included transaction such as exchange.
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