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Shifting of business to another state
my client has shifted the whole unit to another state and got registration in that state. whether the stock transfer shall be subject to gst or not
Replies (1)
Yes gst is applicable
is quite common in a business having PAN India transactions to transfer its stock to its other units, depos, warehouses to cater to timely delivery orders from different Geographical Locations. Under Current Tax scenario, inter- state or intra-state stock transfers are subjected to levy of Excise Duty on removal of Goods. The same is not subject to VAT/ CST. Under the model of GST, tax is collected on supply of Goods with or without consideration being paid or agreed to be paid.
is quite common in a business having PAN India transactions to transfer its stock to its other units, depos, warehouses to cater to timely delivery orders from different Geographical Locations. Under Current Tax scenario, inter- state or intra-state stock transfers are subjected to levy of Excise Duty on removal of Goods. The same is not subject to VAT/ CST. Under the model of GST, tax is collected on supply of Goods with or without consideration being paid or agreed to be paid.
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