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Old stock

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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
Replies (1)
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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