Dear sir
if i have exempted goods stock on 30 june 2017 as this is the exempted under rvat
but under gst provision the gst will be leavy @ 5% so what will be done as per transitional provison....is there any deemed input credit ???
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Exempt goods input
Replies (5)
No, it's not available
so i have to pay full gst on my exempted stock after 1 july ????
No.. Input Credit not available.
After 1st July you sell your goods with Tax (GST). The you should pay the Tax to department...
goods exempt earlier and now taxable are eligible for OTC in similar manner and can claim credit.
please read it as transitional ITC
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