dear team
Dear sir/madam,
I have a doubt regarding GST,
My doubt is that
If I buy a product of Rs 100000 from my supplier on 31st of June and I received a ITC of Rs 4761.9 under VAT , on 1st July I sell the product with my margin of Rs 8000. What will be my tax payable under GST . If GST tax payable is 18% how can I pay the excess tax still my margin is under 8%. is there any compensation?
Please help me to know
My commodity is Tractors Sales
CAclubindia
