LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

GST on previous stock

07 April 2017

jab g.s.t lag jayega 1 July ko ....to Jo stock meri shop pe pehale se pada hai uska kaise pata chalega ki coustmer ko kon si item kis g s.t rate pe deni hai.....so confusing. g.s.t

Reply
Follow
Share

12 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 07 April 2017

Don't woory. The rates of each specific item will be declared in the 4 catagories where GST will be charged at 5 or 12 or 18 or 28 percent, if otherwise exempted.

Ashish Aggarwal (41 Points)
Replied 07 April 2017

Jo stock pehale se hai shop pe uski stock list kiya gov ko deni hogi

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 07 April 2017

Yes, as per last return filed with VAT return.

Ashish Aggarwal (41 Points)
Replied 07 April 2017

magar mere paas to vat no. nahi hai....aise mein kiya hoga

Ashish Aggarwal (41 Points)
Replied 07 April 2017

sir mere paas vat no. nahi hai...pls help

rinku gupta (accountant) (435 Points)
Replied 07 April 2017

if u hv no vat so pls apply for gst

(Guest)

Yes please apply for GST.

deep1976 (propreitor) (266 Points)
Replied 07 April 2017

SIR

WHAT ABOUT STOCK FOR A PERSON HAVING VAT COMPOSITION SCHEME

Ashish Aggarwal (41 Points)
Replied 07 April 2017

magar sir g.st direct apply ho jayega yaan fir pehle vat no. apply karna hoga fir woh g.st mein migrate hoga ...

(Guest)

If you don't have a VAT no., then apply for GST directly, otherwise go for migration option.

(Guest)

Apply for composition scheme under GST .

Studentsca (CA Practice ) (3577 Points)
Replied 08 April 2017

Opt for voluntary registration U/S 23 if you want to collect GST and want Input Tax Credit for goods already lying in your stock. Don't opt for Composition scheme as dealers opting for Composition scheme cannot collect GST hence cannot claim Input Tax Credit.