Purchase from unregistered person

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..... Purchase from unregistered person
Query (Issue) Started By: - Raman Singla Dated:- 2-7-2017 Last Reply Date:- 16-7-2017 Goods and Services Tax - GST
Got 8 Replies
GST
We buy and pickup scrap from nearby villages/area mostly from unregistered persons. They accept only cash and maybe they don't provide their Aadhaar UID no. What is the procedure to purchase from them ??? Reply By .....

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..... KASTURI SETHI: The Reply: If you purchase from unregistered dealer, liability of discharging GST will be yours. Reply By CA. ANCHAL RASTOGI: The Reply: you have to pay GST on those purchase if you are registered dealer and it will be adjusted against output GST liability.of yours. Reply By Raman Singla: The Reply: 1. Does we have to maintain their (unregistered dealer) identity in any form e .....

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..... .g. Aadhaar UID ?? 2. What is the cash purchase limit from unregistered dealer ?? Reply By KASTURI SETHI: The Reply: Exemption of sale value of ₹ 5000/- per day is available to unregistered dealer. It does not mean that unregistered dealer should not issue any kind of bill at all. They have no freedom to do every sale on KATCHA BILL. Exemption does not mean license for KATCHA BILL and NON .....

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..... -MAINTENANCE OF RECORDS. Reply By MARIAPPAN GOVINDARAJAN: The Reply: It is not require the identity of the unregistered dealer. But it is advisable to keep the same. As narrated by Shri Sethi the daily limit ₹ 5000/- is entitled for exemption. But if the limit is exceed ₹ 5000/- reverse charge is applicable for the whole amount. Reply By KASTURI SETHI: The Reply: Sh.Mariappan Govin .....

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..... darajan, Sir, Thank you for stamping my view. Reply By Kishan Barai: The Reply: So if we purchase from URD & pay him via bank & if the amount is below 5000, are we exempted from reverse charge ?? If a buyer of goods is also URD then is he exempted from paying reverse charge even bill cross above 5000 ?? Please elaborate Reply By Ramesh Kothari: The Reply: U can purchased ₹ 5000 from U .....

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..... RD it is without tax but purchase cross this amount tax payable by u under reverse charge and can credit of ITC and same may utilized on ur sales
Discussion Forum - Knowledge Sharing .....

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