Tax rate increase in gst
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 August 2017
sir,
Can you explain how to get the INPUT claim of increased rate of tax in GST,,ie I have purchased goods on 14.5% Vat and sold and claimed 14.5% vat, but balance stock in hand if sell in 28% GST which is above MRP.. ,,, IF is sell it on old price how I will claim difference in Tax...(only the case of VAT no other Excise duty)
Can you explain how to get the INPUT claim of increased rate of tax in GST,,ie I have purchased goods on 14.5% Vat and sold and claimed 14.5% vat, but balance stock in hand if sell in 28% GST which is above MRP.. ,,, IF is sell it on old price how I will claim difference in Tax...(only the case of VAT no other Excise duty)
Rakesh Mishra
(Expert)
28 August 2017
Whatever VAT you have paid, claim credit of that through TRAN 1 and sell your product under GST and pay the tax involved
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