is GST is profit or loss for traders if its profit how if it's loss how
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GST is profit or loss
Replies (68)
its depend on your working structure
profit and loss not decide by gst. its decide your balance sheet
Everything depends on your rate , profit
Sorry posted wrongly
my question was if I am more than 75lakh turnover category GST will affect my profit ratio or not
Everything depends on your GST rate, profit margin, area , market environment, existing stock etc....
anyone has to understand you business nature to reply yo your query.
anyone has to understand you business nature to reply yo your query.
for example in previous vat regime I sold my goods @ 10% profit in GST if I sold at same margin whether amount of profit will be same or less
What is tax rate in earlier law & whats now....
in vat 14.5% now 28% in GST
And is there any changes in purchase price of product
There will no effect on profit ratio. If your cost price decrease before Tax, you can add your profit as desire by you and wise versa. If you are paying GST on your purchases, you will collect GST by your customer, and after availing ITC of your purchases, you have to differencial Tax amount. Then how the question of profit or loss arises?
i agree with you rashmi ji but after gst applicable i dont think so any change on his profit only tax rate change and this rate change for everyone his business profit depends on his purchase or sale and exp.
surely it's loss to me for example before'GST I sold one product @ 10% on MRP of rs 100 for that I have collected 14.5% vat
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