Tax evasion in second hand goods
The govt is saying second hand good sale are not liable for gst. Cant this rule be grossly misused by fraudsters to evade taxes? Please enlighten me anti- corruption activists? more
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It has recently been clarified by the finance ministry that selling of second hand goods is not taxable under GST provided the selling price is less than the purchasing price. more
Jul 19
If second hand good sale are not liable to be taxed under GST, why GST to be charged on selling old jewellery? On the other hand, GST is supposed to be a "Transaction Tax". Therefore, any transaction should be taxed, especially it is being sold by a dealer because he sells at price higher than his purchase price. more
Jul 17
Do you mean to say, second hand car dealers sell cars at a price lower than their purchase price and run the business at loss?
Second, if I had bought jewellery at a higher price and sell at a lower price, don't I have to pay GST? more
Second, if I had bought jewellery at a higher price and sell at a lower price, don't I have to pay GST? more
Jul 29
Second hand goods shall have to be understood first. Goods that have been used. Its difficult to digest that second hand sale will be higher unless its a property which does not fall in the catregory. more
Jul 18
Probability of misuse of system/policy does not warrant imposition of unethical practices in general. Prashant Mohan ji please think again what you stated we already have many illogical approaches in our country contributing to hardships in life. People have to understand the responsibility and behave in disciplined manner for the sake of others. more
Jul 17
Second hand goods are taxable if the transaction is in furtherance of business If it is purely personal transaction and is in furtherance of business the transaction is not taxable Sent from Yahoo Mail for iPhone On Sunday, July 16, 2017, 10:49 PM, Prashant Mohan wrote: more
Jul 17
