FinMin
notifies margin scheme under GST clarifying that GST on supply of second hand
goods to be payable on difference between the selling price and the purchase
price in terms of Rule 32(5) of CGST Rules, 2017, however where the value of
such supply is negative, same shall be ignored; Further, states that Central
Tax is exempted in case of intra-state buying and selling of second hand goods
where the supplier is not registered since ITC is not available on such
supplies; Moreover, states that margin scheme is also applicable to supplies of
old and used empty bottles : FinMin Press Release
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