I wanted clerification with the stock we have is with 9.35% vat, now with gst tax has gone to 12%. what will be the effects

Sir i wanted clerification with the stock we have is with 9.35% vat, now with gst tax has gone to 12%. what will be the effects

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1 Answer(s)

There are 2 scenerio. 1.ur item is non exisable then u ll get 9.35 credit against 12 gst 2.ur itm is exisable and u hv invoice containing exise then u ll get ED credit as cgst. if u dont hv invoice and taxrate below 18 then cgst payble 40 percent reimburse. if more then 17.99 then 60 percent. 1 year old stock condition apply

Answered on June 10, 2017.
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Gen GST