Implications on pharmaceutical product Manufactured in SEZ where no excise is paid.

171 views 1 replies
I am a distributor for pharmaceutical co bought goods on purchase invoice through C form paid CST and Entry tax to manufacturer. Now some goods are in mine stock and some in mine stockist stock. I had billed the goods to mine stockist @ 5% VAT and he further bill to retailer @ 5% VAT. But now since GST is to be levied @ 12% on MRP what we have to do with stock in our holding and how and whom to get credit of extra tax.
Replies (1)
it depends on how much input credit do you have unutilised....the amount of balance of credit can be carried forward to gst...it does not matter whether the stock is still with you or not....since you billed your stockiest at 5 % hence that will reflect in his itc credit...just make sure you properly show this amount in this quarter's return to be eligible for credit.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register