04 November 2016
Dear Sir,
I am working in MNC Company. We have four registration under Excise & service tax. 1.Dealer 2.Importer 3.Manufacturer, 4.Service tax. My question is in GST what are the transition provision we need to take care. As a dealer we have 50kmt of RM & FG in Stock and Avg. Price is Rs. 60 KG. Dealer can not take canvat in current situation. wether Dealer is allowed to take credit of Excise & cvd is paid at the time of Purchase of goods. IF not then all dealer have to load duty paid amount on their sales. That cost 16 TO 20 % PRICE raise. & one more What will happen in case of Vat credit. Pl. Clarify my concerns regarding CENVAT & VAT.
Rg. Mahadev
06 November 2016
In GST, Only SGST and CGST or IGST (as the case may be ) charged and credit of all will be allowed on the further sale. Custom Duty will charged normally as levied currently.
CAclubindia
