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supply of goods which were earlier tax-free
as per VAT unstiched dress material and Saree's were tax free. as per gst they are taxable.. how to tackle this issue
Replies (18)
no issue just collect gst on sale of same in gst regime
and pay to government
no credit on stock held of any duty paid as ur product is tax free in vat regime
but I have in stock all tax-free goods n the stock is upto 2cr.... it is not possible to pay 18% on sale of those stock... how to tackle?
If you are registered dealer then collect this gst on sale of stock from customer and if your turnover is <75 lacs pa then go for composition scheme and pay 1% or 2.5% as the case may be, out of your own pocket.
can't opt for composition scheme due to turnover exceeds the limit
this shall make a heavy tax burden.. any option for this?
You have to get yourself registered and collect this amount from purchaser and pay to govt. dont have any other option
I think the only option is try to. reduce the stock as on 30 th June
mukund ji khareedne wala bhi to chaiye mal ko
what. will be the rate of tax for paper bag , paper covers manufacturer , earlier the tax was exempted for the iyem
purchaser liability of gst
It's confusing, since, the items were tax exempted earlier.
It's confusing, since, the items were tax exempted earlier.
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