Consignment Sales under GST

  What is a Consignment Sale? A Consignment Sale is a trade arrangement in which a seller sends the goods to a buyer or reseller; but the payment to the seller happens as and when the goods are sold. The seller remains the owner of the goods or, in other words, the title holder of the goods until they are paid for in full and also, after a certain period, takes back the unsold goods. In most of the cases, such resellers work on a commission basis. Consignment sales under GST has a relatively new treatment which need to be evaluated by businesses. Key Features of a Consignment Sale The relation between the two parties is that of consignor (one […]