I deal in goods which were under 5% and 14.5% in vat(paid 2% cst)
now the same is 28% in gst. How do I sell my existing stock? With new rates of tax or previous rates for the time being
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Old stock
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If you have excise separately levied invoices ,claim full cenvat credit on such invoices .If you do not have excise separately charged invoices,claim 60% of CGST(i.e.14% × 60%=i.e.Rs.8.40 per Rs.100 )by filing Trans No.2 in each month of sales of such stock upto 6 months.No credit on CST.You have to sell your old stock at GST rate itself.But,if you avail the above discussed credits,normally ,your net sales price would not exceed the pre GST rate .
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