Gst treatement in mobile recharge & bajaj finance read more
santosh
(Querist) 12 May 2019
This query is : Resolved
Sir I want to Know that should a registered mobile retail shop keeper will have to claim the ITC shown in GSTR-2A in his GSTR-3B. relating to Mobile Recharge voucher & Bajaj Finance. Since mobile Shop Keeper have not purchased any thing from Bajaj Finance he has just sold mobile to customer through Bajaj Finance and got Tax Invoice from Bajaj Finance in which written as "Subvention Income" & GST levied on Taxable Amount. In Case of Mobile Recharge when he getting recharge Balance say of Rs. 100/-, he has to pay Rs. 97/-, Rs. 3/- is his income which he has to less pay to Company. Thereafter when he recharge to Customer, he receives Rs. 100/-. The recharge Co. & Bajaj Finance reflected this transaction GSTR-2A and ITC their on. Now my question is will I have to Claim these ITC shown in GSTR-2A? If Yes, how I will treat These ITC in my GST Return ?. Will I have to add Recharge Amount with Gross Turnover with Mobile Sale ? If Yes, then In Income Tax I have to Calculate Profit U/s 44AD @ 8% of Gross sale which will be not justified. Thereafter I have to also show Purchase & Sale of Recharge Voucher with same Amount & have to declare Profit @8% which will be unjustified. I have to also show sale Recharge in GSTR-1. Sir please Resolve my Query.
Thanks & Regards
santosh sharma
KISHAN DUTT KALASKAR
(Expert) 13 May 2019
Dear Sir,
Please contact chartered accountant for accurate reply.
Please mark “LIKE” if satisfied by my answer.
Dr J C Vashista
(Expert) 14 May 2019
What is the dispute involved in your post? It is vague.
