casual dealer, Goods and Services Tax - GST

[CA.ANCHAL RASTOGI]

1. A person is a registered dealer in the Utter Pradesh and do not opt composition.

2. It wants to take part in an exhibition, being organised in Rajasthan.

3. It takes registration as casual dealer in Rajasthan and deposit estimated tax accordingly.

4. It transfer is goods from U P to Rajasthan through Tax Invoice and charge IGST.

5. It sale its goods at exhibition by charging Rajasthan SGST and CGST.

My queries as under:

1. Whether point no. 4 above is correct?

2. Whether IGST paid as per point no. 4 above is adjustable against SGST and CGST of Point no. 5 above?

3. Whether estimated tax liability as per point no. 3 above will be calculated after adjusting IGST of point no. 4 above?

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

a. Point No. 4 is correct;

b. It could not be adjusted;

c. Advance tax is calculated by the Authority concerned and it shall be deposited and it cannot be adjusted against anything.

[KASTURI SETHI]

IGST is to be adjusted preference wise:

1. IGST is to be adjusted against IGST and thereafter remaining balance against CGST and thereafter remaining balance against SGST

[Chhatra Jain]

You will have to charge IGST for goods transferred from U P to Rajasthan.

IGST pd on your Tax Invoice/s would be your ITC and can be adjusted against your CGST/ SGST liabilities as per preferences.

In my view when you submit your calculation of advance, you must take into account ITC.

[KASTURI SETHI]

As per FAQ a casual person is entitled to ITC for all inward supplies.

[Himansu Sekhar]

Regarding point no. 3, the deposit will be made initially in cash. Igst is not ascertainable at that time. All other points-yes