I have stocks on which current vat is 5%
and gst will be 28%
if I sell it on July then tax is 28-5=13% ?
or
28-5-excise ?
excise duty I don't know
sir,
VAT on closing stock will become opening Tax credit as SGST
And 60% of the Central component i.e 14% on the stock in hand as on 30 june will be available as CGST,
stock in hand will be required to be sold in 6 months and
each month stock details will be required to be filed so that 60% exemption can be available
CA Shubham Gupta
9968983550
CAclubindia
