Closing stock valuation for gst rollout

Page no : 2

HIREN (Chartered Accountant) (320 Points)
Replied 22 June 2017

Excise duty on Cotton Fabrics?? There is no excise on Fabrics whether Cotton or Synthetic. Excise is on Garments.

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Mahesh B (Accountant) (24 Points)
Replied 22 June 2017

We are manufacturer of Desiccated Coconut Flakes please help us to know the GST rate for Desiccated Coconut Flakes and Powder.

HIREN (Chartered Accountant) (320 Points)
Replied 22 June 2017

Mail me complete literature of your product

Mahesh B (Accountant) (24 Points)
Replied 23 June 2017

Manufacturer of Desiccatted Coconut Flakes and Desiccatted Coconut Powder now the vat rate is 2% in GST which rate is fixed to our product.

We do not add any artificial flavour or anything it is just Coconut Flakes and powder.

HIREN (Chartered Accountant) (320 Points)
Replied 24 June 2017

@ Mahesh B GST Rate 5%

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Kancheecothirumalasilks Kts (0 Points)
Replied 07 July 2017

Dear Sir, we are retailers of Tax exempted goods before GST after GST our goods comes under 5% category, My question is whether We have to charge Tax for stock before GST or not

SUBHASH AGGARWAL (ACCOUNTANT) (22 Points)
Replied 11 July 2017

I WOULD LIKE TO KNOW ABOUT TRADING CLOSING STOCK ON 30.06.2017

TAX PAID ON PURCHASE @ 13.5%

NOW FALLING UNDER @ 28% SLAB WATCH SPARE PARTS

AM I ELIGIBLE FOR ANY TYPE OF CREDIT IN FUTURE TAX PAYMENT

sumit (director) (30 Points)
Replied 12 July 2017

Dear Sir/Madam I am Small Scale Manufacturer of Auto Parts. Now in Current tax regime, GST is 28%. And i am registered with VAT only in old tax regime. Invoices of stock lying with us are also non-exciseable. I just want to know that how would i get credit of Excise and how many %. And if yes then what are the procedures Thanks