Menu
Say the goods are purchased at vat 4%. with the implementation of gst the rate will increase. does the retailer need to pay the differential tax during the transition stage?
Transitional Implication
Replies (2)
under transitional provisions
retailer is usualy under composite tax scheme, or exempted,
however if the retailer is availing input credit and adjusting the same against output tax liability, then answer would be "YES"
Yes. It is true it will be born by the end user.
Recent Topic
- Dividend difference in 26AS, AIS, TIS
- 194JB INCOME
- Filing ITR3 where income under section 44AD with L
- What is superannuation fund
- GST Refund of input services under Inverted Duty S
- Dividend Reporting
- Real operational bottlenecks after firms use Tally
- Purchase return under gst
- Long Term Capital Loss - cannot be carried forward
- Cross-utilization of ITC between Trading and Resta
Related Topics
CAclubindia
