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Gst on mobile increase 12% to 18%

Ashish Chaurasia (55 Points)

31 March 2020

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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10 Replies

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 31 March 2020

From April-20 You can sale the stock with rate of 18% GST...

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Ashish Chaurasia (55 Points)
Replied 31 March 2020

If i sale at 18% gst then i have a loss of 6% because i have purchase this stock at 12 % gst

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 31 March 2020

Dear.,

How is loss the Tax amount...?

Ashish Chaurasia (55 Points)
Replied 31 March 2020

Yes tax amount loss. if sell price is same then extra 6% pay from pocket.

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 31 March 2020

How is You pay Taxes from Your pocket..?!

Are You can't collect tax from Customers (Consumers)...?

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Vijayprakash P (1313 Points)
Replied 31 March 2020

You should remit the Net tax(output tax-Input tax). Hence there is no loss from your pocket.

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Shivam RC (Student) (23683 Points)
Replied 08 April 2020

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.

Ashish Chaurasia (55 Points)
Replied 08 April 2020

If phone selling price is not increase then

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 08 April 2020

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...