gst rate on readymade garment
Dinesh Goyal (4 Points)
12 June 2017
how to calculate gst on readymade garment and what about old stock
Dinesh Goyal (4 Points)
12 June 2017
CA Rashmi Gandhi
(Chartered Accountant)
(86308 Points)
Replied 12 June 2017
CA Anoop Tiwari
(Practicing Chartered Accountant)
(135 Points)
Replied 12 June 2017
Hi Dinesh ,
Query no. 1) GST rates are 5% (value < Rs. 1000) & 12% (value > Rs.1000)
Query no. 2) About old stock you have to understand the transition provisons therefore.
Central taxes will be c/f as CGST and Sate taxes as SGST , full credit can be c/f if duty paid documents are availble otherwise 40% of CGST payable will be treated as credit in tax payable where the final GST is less than 18%.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
