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Here to solve any GST related query.
can we take transition input of 40% on stock on appointed day
can we take transition input of 40% on stock on appointed day
Reverse charge may be applicable for both services as well as goods. So you will have to pay GST under RCM irrespective of the expenses of your incurring.
Hi Jeet,
1.Tell me clearly about GST for Builders and developers, what is the rate of GST and in that what is CGST , SGST , IGST and input tax implications.
2.What is the implications, if land value included and if not inclued.
Answer with specific rule and section. No assumptions please..........
Can you please help clarify on what will happen to stocks with a trader that were purchased at a lower VAT rate for eg at 14% vs the new GST rate applicable would be 28%. Who will have to bear the incidence of higher tax. Are there any other provisions one should be aware of transition goods ?
CGST Act quite clearly says that such dealers and traders can
avail input tax credit in respect of goods in stock with them as on 1-7-2017 on which Vat and/or excise duty
has been paid and for which they have duty paying documents, which are less than 12 months old i.e. invoices
issued on or after 1-7-2016 will be eligible for input tax credit.
We have cars which we have taken on lease .under gst willl we get input tax credit on the gst charged on lease rental.
What will be gst on lease rental.
quote section in the reply for me to understand and read
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