again I am explaining on 30th June I have closing stock of 10lakh inclusive of vat paid @ 14.5 and MRP of that stock was say 1111000 now I have sold all this stock till date means I have reduced my MRP by 14% because of cgst now my question was can I get cgst claim or not I have only vat paid bill
In this Case no loss in dealer. Bcoz, He get his VAT ITC as SGST ITC. Also the basic value Rs. 10lakhs is his hand and the tax amount also in his hand... Otherwise he sell his goods as Basic Value plus GST 28% and collect from Customers and pay to govt...
dear Raja I am purchasing genuine spare parts from royal Enfield @ 10% discount including vat for example for 100 MRP I bought at 90 inclusive of vat upto 30th June means 78.60 basic plus 11.40 as vat and sold 87.30 sale price plus 12.70 vat in previous regime. now the same in GST I sold at 78.10 plus GST 21.90 at reduced price. This sale is made out of closing stock here I reduced my sale price by 9.20 b miecause of GST for the closing stock with me I have only
CAclubindia
