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Profile photo of DEBAPRATEEM MALDEBAPRATEEM MAL asked 2 weeks ago

GST liability

I am a registered gst seller I have purchased a product
from its manufacturer at price of 112 INR,where 12 INR is the gst which I have already payed to the manufacturer .
If  I resell this same product on its purchase price that is 112 INR.
Is there any gst liability for me???

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1 Answers
Profile photo of AnkushgargAnkushgarg answered 2 weeks ago

No GST  Liability on you if u sell the product on same price.but when u  file income tax return then your profit will be zero. jo ki department ko lgaga ki aise koi zero margin pr kaise sale kr sakta hai then apka accounts ka assessment kiya ja sakta hai or koi bhi miskate hui then department apko penalty lga sakta hai this is my view point on this query.