I have stock of mobile in 12% rate but now from 1st april 2020 rate change to 18%.
how can i sell 12% stock.
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Gst on mobile increase 12% to 18%
Replies (10)
From April-20 You can sale the stock with rate of 18% GST...
If i sale at 18% gst then i have a loss of 6% because i have purchase this stock at 12 % gst
Dear.,
How is loss the Tax amount...?
How is loss the Tax amount...?
Yes tax amount loss. if sell price is same then extra 6% pay from pocket.
How is You pay Taxes from Your pocket..?!
Are You can't collect tax from Customers (Consumers)...?
Are You can't collect tax from Customers (Consumers)...?
You should remit the Net tax(output tax-Input tax). Hence there is no loss from your pocket.
There will be no loss of Tax Amount. Charge 18% GST on Mobile Phones w.e.f. 01.04.2020. You will be having 12% GST Amount in your E-Credit ledger, and only the balance 6% you have to pay using E-Cash Ledger which you have already collected from your customers. So I don't see any loss Sir.
If phone selling price is not increase then
Are You change Your selling price with less than purchasing price...?
Think about Your purchase with Sales which way You get loss / Shortage...!
Any of the sale price You collect tax from Customers. Then which way You feel fall into loss or pay through Your pocket...
Think about Your purchase with Sales which way You get loss / Shortage...!
Any of the sale price You collect tax from Customers. Then which way You feel fall into loss or pay through Your pocket...
GST is indirect tax and burden of tax is transferred to customers
and sale after date of change in rate is taxable @ 18%
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