TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>GST Margin Scheme: Tax on Second-Hand Goods Based on Profit Margin, Avoids Double Taxation, Excludes Input Tax Credit</h1> The Margin Scheme under GST allows dealers in second-hand goods to pay tax only on the margin, which is the difference between the selling and purchase price, provided no input tax credit is availed. This scheme prevents double taxation on goods that have already been taxed. If the selling price is lower than the purchase price, no GST is charged. The scheme exempts intra-State supplies of second-hand goods from tax if acquired from unregistered suppliers. For repossessed goods, the value is adjusted based on the borrower's registration status and the time elapsed since purchase. The scheme is applicable to various goods, including antiques and used bottles, but not to gold melted from second-hand jewellery.
TaxTMI 
TaxTMI 
