Cosmetic business related gst query
This query is : Open
25 May 2017
Dear Experts,
I am trader of cosmetic products like beauty creams, we get manufactured creams from non excisable units .They sell us the product through cst invoice at 2%.We further sell at 13.125% vat on it.
1)In GST the cosmetic products are at 28% bracket.
My question is that stock lying with me on 30 th june will sell @28% GST on it and practically I have no input with me since all billing is at 2% CST. I have to pay 28%(15% extra) from my pocket, is there any gst provision which can help me save tax as addition 15% burden is implicated on me.
2) Post GST Implementation , as per my understanding my cost will increase by 15%. Is it right?? I will be getting bill from supplier/manufacturer @ 28% with GST.
I am trader of cosmetic products like beauty creams, we get manufactured creams from non excisable units .They sell us the product through cst invoice at 2%.We further sell at 13.125% vat on it.
1)In GST the cosmetic products are at 28% bracket.
My question is that stock lying with me on 30 th june will sell @28% GST on it and practically I have no input with me since all billing is at 2% CST. I have to pay 28%(15% extra) from my pocket, is there any gst provision which can help me save tax as addition 15% burden is implicated on me.
2) Post GST Implementation , as per my understanding my cost will increase by 15%. Is it right?? I will be getting bill from supplier/manufacturer @ 28% with GST.
CA CS Jainam Shah
(Expert)
25 May 2017
I think you are thinking about loss since it is a MRP product. For MRP product price is likely to revise by the mfg of the product to adjust the GST component. So I advise you to contact your mfg.
GST you will pay is you are going to collect from customers.. So there is no extra cost to you.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Intimation under section 245
- ETDS return q4 25-26
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
