Margin scheme in GST

By |2018-05-25T09:43:48-05:30September 4th, 2017|Categories: GST|Tags: , , |

Introduction Whenever there is a transaction of supply, you have to pay GST. However, in case of second-hand goods, you have to pay tax on only the margin. Margin Scheme tells us about the difference between the value at which they supply the goods and purchase value. If there is no margin then they will not [...]

Pure Agent under GST

By |2020-03-16T03:09:09-05:30September 3rd, 2017|Categories: GST|Tags: , , , |

Introduction Pure Agent is a registered taxable person who collaborates with other suppliers. He undertakes to receive ancillary services from other suppliers of goods or services and incurs expenditure on behalf of his client. Thereafter, the pure agent will claim the expenses he incurred as reimbursement. In other words, the one who makes a supply to [...]