GST has been implemented, but many small businessmen who have not yet registered and those businessmen who have a provisional GSTIN number are very confused about the input tax credit from invoices. Learn From Leading GST Expert Manish Gadia Solving Your Dilemmas:

– If not done, the registration of GST

Would be done by the traders who were not in any kind of tax scope till June, if they have not registered yet till July 30. Such merchants (B-2-B) can offer invoices to a customer without a GST charged in a normal manner. But B-2C still has no clarity. In the site that the government had started from the beginning of the 25th, in which provisional numbers have been found, they can charge GST.

– Find out the rate

The traders who have gone to this net for the first time need to know themselves what their GST rates are, if they cannot know, then they can ask their supplier what their HSN code is and what is the price Is coming under the scope of Because his supplier will already be registered in excise. That is why he can tell.

– Invoice Issue will be

Understand that a wholesaler will request GSTN number from his retailers by filling GST tax and writing on the bill will upload that invoice. This wholesaler will get from the credit retailer. Any goods or service supplied by the seller will have to invoice the invoice. Now the details of GSTN TIN number will be uploaded in GSTR-Form 1 till 10th of every month. As soon as whole seller uploads the sales of sales, the retailer will appear in his / her account and it will go to the government’s system. This way the retailer will get credit in GSTR-2A.

– Change option for retailer

If the supplier or wholesale sold anything less than what he has sold, the buyer or the retailer has an option that he can add to GSTR-2A and make this change till 15th. Wholesale has an option to accept or reject this change. If accepted, then the credit retailer will get it and reject the wholesale dealer, so many items that match will get the credit. On every 18th of every month, every dealer (retailer who gets a retailer) can see the purchase and sales on the government site. But only you can see your liability. Now the details of the purchase and sales will be made by the date of 20th and the GSTR-3 form has to be uploaded to fill the returns.

– Will get credit

For example, if whole seller sells the goods of one lakh rupees (18% of the amount), then tax of 18,000 rupees. Now if its manufacturer has tax of Rs. 16,200 (18 per cent) tax on goods worth 90,000 rupees. In such a case, the wholesale solder will have to pay 18,000-16,200 = 1800 rupees only and Rs 16000 will be given as an input credit. The manufacturer will take his credit from the raw material. Now the retailer will sell same goods on 18% of GST basis of Rs.110,000 and will pay a tax of Rs.18,800, and from 18000 rupees (input credit) will be deducted tax of 1800 rupees, which will be taken from the customer. He has to pay taxes on margins. Actually GST is on Value Addition.