Margin scheme

[Avesh Jain]

Can I sell used goods under margin scheme purchased from a registered vendor when payment made to the vendor bank account, No ITC passed or claimed on the purchase but vendor didn't issue any invoice for the purchase

AI Summary

Used Goods Sale Under GST Margin Scheme: Compliance Hinges on Documentation, No Input Tax Credit, and Traceable Payment A discussion forum explores the application of the margin scheme under GST when selling used goods purchased from a registered vendor without a tax invoice. The consensus is that selling under the margin scheme is permissible if no input tax credit was claimed, payment is traceable, and proper documentation is maintained to substantiate the transaction's details and compliance with Rule 32(5) of CGST Rules.