Gst on mobile increase 12% to 18%

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55 Points Joined July 2017
I have stock of mobile in 12% rate but now from 1st april 2020 rate change to 18%.
how can i sell 12% stock.
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On 31 March 2020 at 21:17 Report
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128121 Points Joined January 2015
From April-20 You can sale the stock with rate of 18% GST...
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On 31 March 2020 at 22:02
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55 Points Joined July 2017
If i sale at 18% gst then i have a loss of 6% because i have purchase this stock at 12 % gst
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On 31 March 2020 at 22:03
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128121 Points Joined January 2015
Dear.,

How is loss the Tax amount...?
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On 31 March 2020 at 22:08
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55 Points Joined July 2017
Yes tax amount loss. if sell price is same then extra 6% pay from pocket.
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On 31 March 2020 at 22:19
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128121 Points Joined January 2015
How is You pay Taxes from Your pocket..?!

Are You can't collect tax from Customers (Consumers)...?
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On 31 March 2020 at 22:23
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1313 Points Joined July 2018
You should remit the Net tax(output tax-Input tax). Hence there is no loss from your pocket.
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On 31 March 2020 at 23:16
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Student
23688 Points Joined November 2017
There will be no loss of Tax Amount. Charge 18% GST on Mobile Phones w.e.f. 01.04.2020. You will be having 12% GST Amount in your E-Credit ledger, and only the balance 6% you have to pay using E-Cash Ledger which you have already collected from your customers. So I don't see any loss Sir.
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On 08 April 2020 at 10:17
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55 Points Joined July 2017
If phone selling price is not increase then
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On 08 April 2020 at 10:56
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"Do the Right Thing...!!!"
128121 Points Joined January 2015
Are You change Your selling price with less than purchasing price...?

Think about Your purchase with Sales which way You get loss / Shortage...!

Any of the sale price You collect tax from Customers. Then which way You feel fall into loss or pay through Your pocket...
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On 08 April 2020 at 10:59
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Chartered Accountant
12739 Points Joined December 2016

GST is indirect tax and burden of tax is transferred to customers 

and sale after date of change in rate is taxable @ 18% 

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On 08 April 2020 at 11:05


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