urgent sir
Bathri Narayanan (208 Points)
28 February 2019
How I treat free sample sales.in gst3b and gstr1 filling sir.plz any one help me sir
2 Replies
Adhiseshan
(PROFESSIONAL)
(80 Points)
Replied 28 February 2019
1.Samples – Products are marked as “Physicians Sample” or “Not for sale”- no output tax reqired to be paid-credit to be reversed on cost
2.Samples – Products are drawn out of finished goods and then offered as samples-Output Tax to be paid on sale price (Schedule 1 – Permanent Transfer of Business Assets on which credit has been availed)-Credit will be available
How to disclose in return-
Type 1 – As the Free Samples are not supplies and hence no requirement of disclosing the same as outward supplies in the returns. The credit relating to the same can be disclosed in Table 4 of the Form GSTR 3B as Ineligible ITC under Section 17(5) or Credit Reversal under “Others” if credit was already availed.
Type 2 – Free Samples will be treated as outward supplies and will have to disclosed as taxable outward supply in Table 4 of Form GSTR 3B as B2C sale.
Regards,
Adhi
9940840777
Adhiseshan
(PROFESSIONAL)
(80 Points)
Replied 28 February 2019
1.Samples – Products are marked as “Physicians Sample” or “Not for sale”- no output tax reqired to be paid-credit to be reversed on cost
2.Samples – Products are drawn out of finished goods and then offered as samples-Output Tax to be paid on sale price (Schedule 1 – Permanent Transfer of Business Assets on which credit has been availed)-Credit will be available
How to disclose in return-
Type 1 – As the Free Samples are not supplies and hence no requirement of disclosing the same as outward supplies in the returns. The credit relating to the same can be disclosed in Table 4 of the Form GSTR 3B as Ineligible ITC under Section 17(5) or Credit Reversal under “Others” if credit was already availed.
Type 2 – Free Samples will be treated as outward supplies and will have to disclosed as taxable outward supply in Table 4 of Form GSTR 3B as B2C sale.
Regards,
Adhi
9940840777
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