Goods and Services Tax – Started By: – Pawan Chaudhari – Dated:- 6-10-2017 Last Replied Date:- 7-10-2017 – Hello,I have small scrap shop,I purchase scrap from house hold like old paper, iron steel etc.and give them money in cash So I don't have any bill of purchase and when I sale this goods after accumulation in bulk to other dealers for which I give them GST bill and they pay me amount including GST via cheque which I have to withdra cash from . So my query is how do I show the purchase.? I also have to transport accumulated goods to the dealer. Or any suggestions how will GST work with this business model.? – Reply By Pawan Chaudhari – The Reply = It's sales bill without purchase bill – Reply By KASTURI SETHI – The Reply = In su
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t if per day purchase ismorethan five thousand. You can have an invoice once in a month and pay gst on reverse charge and take ITC. – Reply By Chhatra Jain – The Reply = As you are purchasing from URD it for you to pay raise bill of supply if it is more than 5000/ per day and pay GST in reverse charge. Once you pay you pay GST in reverse charge it will be your ITC and same can be adjusted against your output liability. Alternatively if purchase is less than 5000/ you can raise GST in Sales Invoice and pay GST. So in this way you can discharge your GST liability. In case of transportation of goods to dealer if freight is less than 1500/ no need to pay GST. If it is more than that recipient is to pay GST on Freight iin reverse charge. But GST
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