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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.
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