If I buy a good from composition dealer and sell it at 28% then I have to pay tax on my profit only or the full value?

If I buy a good from composition dealer and sell it at 28% then I have to pay tax on my profit only or the full value?

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3 Answer(s)

On sale values.

Answered on June 28, 2017.
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As per sec-15 of CGST ACT, the value shall be transaction value means the sales value.

Answered on June 28, 2017.
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You will have to pay GST on full value in all cases. Where you purchase from a registered dealer you get credit of GST charged on purchase which when adjusted makes net GST payable only on margin. However there is no provision of paying GST only on margin. Thus full GST on transaction value shall be payable.

Answered on June 29, 2017.
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Your Answer

Gen GST