Say the goods are purchased at vat 4%. with the implementation of gst the rate will increase. does the retailer need to pay the differential tax during the transition stage?
CA.Vinita Gupta (Deputy Manager- Finance) (2923 Points)
23 August 2016CA.Vinita Gupta (Deputy Manager- Finance) (2923 Points)
23 August 2016
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 23 August 2016
under transitional provisions
retailer is usualy under composite tax scheme, or exempted,
however if the retailer is availing input credit and adjusting the same against output tax liability, then answer would be "YES"
TSV DIWAKAR
(PROPRIETOR)
(66 Points)
Replied 02 September 2016
Yes. It is true it will be born by the end user.