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GST Tip – 410

Under Margin Scheme in GST, the tax is payable on the difference between the buying price and the selling price. This is applicable to a person who is buying and selling second-hand goods.

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GST Tip – 288

Notification No.10/2017-Central Tax (Rate), if a registered tax payer who is in the purchase and sales of second-hand goods is exempted from paying taxes under reverse charge in case if he makes any purchases from the unregistered tax payers.  Refer here for full extract of the notification – http://india-gst.in/wp-content/uploads/2017/06/Rate-10-2017.pdf

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