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💡 GST Margin Scheme – Technical Breakdown (Rule 32(5)) 🔹 1. Concept Overview The GST Margin Scheme applies to dealers dealing in second-hand goods, where GST is levied only on the margin (profit) instead of the full transaction value. 🔹 2. Legal Provision As per Rule 32(5) of the CGST Rules, 2017, the value of supply = 👉 Selling Price – Purchase Price 🔹 3. Taxable Value Calculation ✔️ If Margin > 0 → GST payable on margin ✔️ If Margin < 0 → Value ignored (No GST) 🔹 4. Applicability (Eligible Businesses) ✔️ Second-hand goods dealers ✔️ Used vehicle dealers ✔️ Scrap dealers ✔️ Antique & art dealers ✔️ Refurbished electronics sellers ✔️ Jewellery resellers (pre-owned) ✔️ Old machinery traders 🔹 5. Input Tax Credit (ITC) Treatment ❌ ITC is not allowed on purchase of such goods 🔹 6. Conditions to Avail Scheme ⚠️ Goods should be sold as such or after minor processing ⚠️ No major value addition should be done ⚠️ Proper purchase & sale records must be maintained 🔹 7. Special Case – Repossessed Goods For repossessed assets (e.g., by banks/NBFCs): 👉 Deemed purchase price = Original cost – 5% depreciation per quarter 🔹 8. Key Benefit ✅ Avoids double taxation ✅ Reduces overall GST liability 📌 Conclusion: GST is payable only on the economic value addition (margin), ensuring fair taxation for resale businesses. 💬 Save this for reference & share with your business circle! #GST #GSTIndia #Taxation #FinanceKnowledge #CAStudents Bu

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If you took business premises or godown or your residential place for GST Registration purpose and entered into a Rent Agreement with some Unregistered Person then in that case when you are paying Rent or Incase not paying rent then on notional rent payment you need to pay GST on RCM basis. Though you can take Input on same amount of GST paid. #financeby_ca_bros #gst #rcm #rent #tax [Finance GST Taxpayer Unregistered Tenant Personal Registration RCM Reverse Charge Mechanism Urgent Viral Reel New Business Idea]

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Gst input on bus purchase Section 17(5) Notwithstanding anything contained in sub-section (1) of section 16 and sub-section (1) of section 18, input tax credit shall not be available in respect of the following, namely :— (a) motor vehicles for transportation of persons having approved seating capacity of not more than thirteen persons (including the driver), except when they are used for making the follow ing taxable supplies, namely : (A) further supply of such motor vehicles ; or (B) transportation of passengers ; or (C) imparting training on driving such motor vehicles ; (aa) vessels and aircraft except when they are used (i) for making the following taxable supplies, namely :— (A) further supply of such vessels or aircraft ; or (B) transportation of passengers ; or (C) imparting training on navigating such vessels ; or (D) imparting training on flying such aircraft ; (ii) for transportation of goods ; For stay connected with @gstguy Disclaimer this video is for only information purposes #gst #GSTPenalties #gstportal #gstregistration #gstinvoice gstinvoice gstnotice gstregistration gstinvoice gstguy gstontour gstindia

1 April se sirf financial year hi nahi badalta… HSN compliance bhi change ho sakta hai! ⚠️ Agar aapka turnover ₹5 crore se exceed karta hai, toh B2B aur B2C dono invoices par 6-digit HSN mandatory ho jata hai. Aur ₹5 crore tak turnover wale taxpayers ko B2B invoices par 4-digit HSN mention karna zaroori hai. Galat ya missing HSN… GST penalty tak le ja sakta hai. Isliye naye financial year ke start par apna turnover check karke HSN applicability zaroor review karein. GST Series — Day 13 30 din, simple GST ki baatein. #GST #HSNCode #GSTCompliance #GSTTips #GSTIndia IndirectTax TaxUpdate CharteredAccountant BusinessCompliance GSTSeries