i m a manufacturer and i heard that there is separate rules and tax rates in gst law so i m worried whether there would be any further any complications in future i heard that i cannot take input credit because i m a manufacturer
do i need to pay any tax on sales i have made ? actually i paid the extra tax last month !
as well my cost is very low . i should keep this rate in order to keep up the market competation ??? will i be charged under anti profiteering law??
07 November 2017
GST registration is required only for those turnover is above Rs.20 lakhs p.a. And ITC is available for manufacturers. You need to charge applicable GST in your sales invoice, collect the tax and pay to govt. after adjusting the ITC on purchases.
09 November 2017
I am registered but I was told by someone that I cannot take ITC for ex- if I have purchases tax of Rs.200 and sales tax of rs.400, so while filing the returns I must pay rs.400 again is it instead of paying 200??? is there any kind of provisions in GST Law ?? particularly for manufacturers ??is there any tax rate change for manufacturers ??