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Pugal T & Yarab A

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  • Dear Team,

    Greetings for the Day..!!

    Kindly guide us on applicability of Tax Rate on the below transaction

    Seller is in the state of Telangana, selling goods over the counter, Buyer (ultimate consumer from a state of Karnataka) buys material over the counter.

    Is the seller liable to charge IGST considering the buyers place, or he need to charge SGST and CGST considering the place of supply as Telangana, irrespective of the buyer address.

  • Determination of the free sample value is critical for reversal of input credit. General practice (considering the VAT) is to reverse the input credit availed on the materials only. However under GST the reversal of input credit should be on cost of sales and not on cost of manufacture. Best option is to pay the tax based on the value considered for normal sales value of the product.

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