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Margin Scheme in GST

Margin Scheme in GST - Goods and Services Tax - GST Law and Procedure - 08A - Margin Scheme in GST Normally GST is charged on the transaction value of the goods. However, in respect of second hand goods, a person dealing is such goods may be allowed .....

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tion as the goods, having once borne the incidence of tax, re-enter the supply and the economic supply chain. Valuation of Second Hand Goods: As per Rule 32(5) of the CGST Rules, 2017, where a taxable supply is provided by a person dealing in buying .....

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erence between the selling price and the purchase price and where the value of such supply is negative, it shall be ignored. The proviso to the above rule further provides that in case of the purchase value of goods repossessed from a unregistered de .....

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he date of disposal by the person making such repossession. In this regard, Notification No.10/2017-Central Tax (Rate) New Delhi, dated 28th June, 2017 exempts intra-State supplies of second hand goods received by a registered person, dealing in buyi .....

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al tax levied under the CGST Act, 2017. Similar exemptions are also there in respective SGST Acts. Illustration: For instance, a company say M/s FirstSource Ltd, which deals in buying and selling of second hand cars, purchases a second hand Maruti Ce .....

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