about trans1

Page no : 2

g mahesh Mundra (Business and tax consultant) (3293 Points)
Replied 04 October 2017

pls clarify me Raja I am looser or not

Upgrade to CAclubindia Pro. Subscribe Now!

g mahesh Mundra (Business and tax consultant) (3293 Points)
Replied 04 October 2017

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

g mahesh Mundra (Business and tax consultant) (3293 Points)
Replied 04 October 2017

pls clarify me Raja

Dr. ShamsheerKhan (Director of S S Associates) (968 Points)
Replied 04 October 2017

All indirect taxes were truncate and gave birth to GST era. You do not have exception. Have to follow the law.

g mahesh Mundra (Business and tax consultant) (3293 Points)
Replied 04 October 2017

means traders have to loose

Upgrade to CAclubindia Pro. Subscribe Now!

RAJA P M ("Do the Right Thing...!!!") (127977 Points)
Replied 04 October 2017

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...

RAJA P M ("Do the Right Thing...!!!") (127977 Points)
Replied 04 October 2017

Basically view the goods include ED value. So, Tax is not suffered the items....

Also the starting troubles are faced all dealers...

g mahesh Mundra (Business and tax consultant) (3293 Points)
Replied 04 October 2017

mr Raja pls give your mob no I want to talk about this point

g mahesh Mundra (Business and tax consultant) (3293 Points)
Replied 04 October 2017

my mobile number 0944306717

g mahesh Mundra (Business and tax consultant) (3293 Points)
Replied 04 October 2017

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