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readymade garment tax rate

vikas (Accounts manager) (31 Points)

03 July 2017

tax rate of 12% & 5% is to be charged on invoice value or per piece above 1000/- or below 1000/- respectively.

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14 Replies

Kirit Chitalia (4 Points)
Replied 03 July 2017

but input tax refund available?

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CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 03 July 2017

per piece value...

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 03 July 2017

@ kirti....input tax balance is adjusted against future liability of gst

SURINDER MOHAN (PROPRIOTOR) (32 Points)
Replied 03 July 2017

can composition dealer purchase goods from composion dealer if yes who will pay GST

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 03 July 2017

since both are registered, hence supplier will pay the gst and he cannot collect is separately from purchaser....he has to pay @ 1% or 2% as the case may be from his own pocket.

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Kirit Chitalia (4 Points)
Replied 03 July 2017

sir
if readymade garment goods i pay 12%
i can claim paid gst as set off?

SURINDER MOHAN (PROPRIOTOR) (32 Points)
Replied 03 July 2017

SIR I CHARGED FRIGHT ON OUTWORD SUPPLY FROM MY CUSTOMERS AND ADDED IN TAX INVOICE, IF THEIR IS ANY LIABILITY TO PAY GST

WHO WILL BE RESPONSIBLE

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 03 July 2017

@ kirti.....yes if you have paid output gst than it is your right to claim input tax paid by you earlier when you had purchased the same

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 03 July 2017

you should have charged gst also on the freight value also....if you have not charge it mistakenly, you should issue revised bill and charge the same, otherwise it will be assumed that value of freight is cum duty and you have to paid gst from your pocket.

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SURINDER MOHAN (PROPRIOTOR) (32 Points)
Replied 05 July 2017

Sir, my firm supply the goods direct to parties on behalf of commission agents and paid them commission as per agreement and paid servive tax in existing law

what will be the impact in GST law and rate of GST

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SURINDER MOHAN (PROPRIOTOR) (32 Points)
Replied 12 July 2017

SIR,

Textile dealer being exempt in existing law having stock on 30-06-2017 purchsed from unregister dealers, 5% GST levy in GST,

opts compostion scheme. what is the procedure of tax paid on stock held on 30-06-2017

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 12 July 2017

I also have confusion about this whether or not gst needs to be paid on the stock purchased before 1 July from unregistered dealer at the time of opting composition scheme.....one of the expert "Ashok Batra" who is teaching GST (you might have seen his advt. during champion league matches) said that in his opinion in the above case one need not to pay any gst......but for more clarity I have asked this question on Twitter handle of cbec.....if they reply than I will let you know.

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