Kanav garg asked 6 years ago
Invoicing in GST
Is a person doing invoicing in case of a margin scheme required to issue bill only of margin amount or show both values of goods and value of second-hand goods purchased? Please clarify and also which amount would be included in turnover value
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1 Answers
Sachin Agrahari answered 6 years ago
Dear Sir.
Invoice is to be issued for the full amount as it will categorized in Exempt supply and taxable supply. Margin amount will be counted as taxable supply and value of second hand good will be treated as Exempt supply.
In GST Return we show the amount of Exempt supply as well as Taxable supply and also Invoicing and payment will be tracked on one to one basis.
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