Practicing Chartered Accountant
135 Points
Joined June 2009
Hi Dinesh ,
Query no. 1) GST rates are 5% (value < Rs. 1000) & 12% (value > Rs.1000)
Query no. 2) About old stock you have to understand the transition provisons therefore.
Central taxes will be c/f as CGST and Sate taxes as SGST , full credit can be c/f if duty paid documents are availble otherwise 40% of CGST payable will be treated as credit in tax payable where the final GST is less than 18%.