TMI Bloginvoicing for Second Hand goods soldX X X X Extracts X X X X X X X X Extracts X X X X ..... Sir in case of Second Hand Goods sold the taxability is on margin amount as per Rule 32(5) of the CGST ACT , if suppose a product Sold for ₹ 10,000/- where the purchase price was ₹ 9000/- then Tax on ₹ 1000/- need to be paid. My Query 1. if the product sold to a Registered Dealer how to show in the invoice the above detail. - Reply By Rajagopalan Ranganathan - The Reply = S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ir In my opinion, the procedure for issuing the invoice is the normal procedure to be followed in the case supply of goods in the normal circumstance. The only difference is you have to show how the transaction value of ₹ 1000/- has been calculated and pay gst on such transaction value calculated.. - Reply By KASTURI SETHI - The Reply = I agree with the reply of Sh.Ranganathan, Sir. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso mention full particulars of purchase invoice on the body of tax invoice.. - Reply By Shilpi Jain - The Reply = In this invoice you will have to mention rs. 1000 as the taxable value. Also agree with Rajagopalan sir's point. - Reply By Ganeshan Kalyani - The Reply = Against 9000 gst rate will be 0 in the invoice and tax also be 0. As against 1000 tax rate and tax amount both will be s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hown. - invoicing for Second Hand goods sold - Query Started By: - vignesh VSACCOUNTOPRIVATELIMITED Dated:- 30-7-2021 Goods and Services Tax - GST - Got 4 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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