TaxTMI 
TaxTMI 
Changes of HSN attracts Section 17 of GST
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....hanges of HSN attracts Section 17 of GST<br> Query (Issue) Started By: - Raman Singla Dated:- 26-11-2021 Last Reply Date:- 6-12-2021 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>We purchase Battery (HSN - 8507 GST Rate 28%) without any claim from seller. In the course of reselling under our brand, few of them say 35% of total product is not as per standard or not working as per requirem....
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....ent. The standardised product sold at high margin with guarantee/warranty in the market. And to recover the maximum value from unstandardized /not working product we dismantle the product through job work results into Lead and Plastic Shell, where lead consist 65% and remaining plastic shell consist 5% of the total product . Both Lead (HSN 7801 GST rate 18%) and waste plastic shell (HSN 3915 GST....
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.... rate 18%) sold in open market, which derives almost to recover 70% value of the product. OR some time due to busy schedule or to recover fast cash the unstandardized/not working product sold as it is to recover 65% of value in the open market by naming Waste battery (HSN 8548 GST rate 18%). Now my query is : Is there any part which attracts section 17 of GST ? Will TCS on sale of Waste Plastic ....
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....applicable ? Reply By Ganeshan Kalyani: The Reply: In my view no item mentioned in your query falls under sec 17(5). Reply By Shilpi Jain: The Reply: I think your query is not very clear. Are you asking regarding reversal of credit (s. 17(2)) or ineligible credit (s. 17(5))? Reply By Shilpi Jain: The Reply: Also if you are asking about TCS under GST, TCS is applicable under GST only when sal....
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....e is made through e-commerce operator and where such e-com operator collects the consideration. Reply By Raman Singla: The Reply: Reversal of credit AND TCS is Under I TAX Reply By Shilpi Jain: The Reply: As far as your outward supply is taxable, eventhough at a lesser value or rate, reversal of credit not required.<br> Discussion Forum - Knowledge Sharing ....