If its 26% its horrible how it benfits common people
Mahesh Bysani (46 Points)
19 October 2016Mahesh Bysani (46 Points)
19 October 2016
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 19 October 2016
Your query is not clear especially about excise duty
CA Amrita Chattopadhyay
(Audit & Assurance)
(13349 Points)
Replied 19 October 2016
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 21 October 2016
GST leads to enhanced credit leading to reduced cost of goods. In auto industry it is expected that the giants who have costing available upto 4 th stage- main supplier - his supplier- sub sub supplier. Therefore they will insist the benefitis passed on under GST. Normal products under 18%.
The 26% is for SIN goods.
These goods already have excise duty in excess of 24% + add VAT at 14.5= add cascading of CST- 1%= total = 40. Even foir those few goods the GST introduction will reduce cost by 10%!!!
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