Sale of stock in hand on which GST enhanced w e f 1st Oct, 21

There has been enhancement of GST rate on Carbonated Beverages of Fruit Drink or Carbonated Beverages with Fruit Juice. ( Heading 2202) • GST Rate enhanced from 12 % (total 12% ) to 28 PLUS 12% CESS  ( total 40% )WITH EFFECT FROM 1ST OCT. 21

 

My query which I would be happy to get solved is what position will be of

Such stock in hand as on 30th sep 21 that was purchased by us prior to 30th Sep 21

And is lying un sold as on 1st of October, 21.

 

Will such unsold stock in hand prior to enhancement can be sold at previous rate (12%) or at  new regime (40%) will be applicable

Replies (4)
Quick Summary
This discussion addresses the GST implications for stock on hand when rates are enhanced. Specifically, it covers carbonated beverages where the GST rate increased significantly from 12% to 40% (28% GST + 12% Cess) effective October 1st, 2021. The core question is whether stock purchased before this date but unsold on October 1st can be sold at the previous lower rate or if the new, higher rate must be applied.

Go and read section 14 of CGST Act, 2017. You will get the answer of all your doubts there.
You need to sell all stock at new rate

Thanks for your prompt help. Going through i. Thanks a lot.

Dear amin, please like the reply if you found it useful. It will help us being motivated

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