GST IMPLICATIONS ON STOCK TRANSFERS, Goods and Services Tax - GST

[SANDESH SHINDE]

Dear Sir,

Please explain us when there is stock transfer within state which GST would be levied, IGST or CGST & SGST and additional 1% will leaviable.Please explain, thanks & regards.

Posts / Replies

[KASTURI SETHI]

If stock transfer is within State it would attract tax under CGST or SGST depending upon the product whether scheduled under CGST or SGST. No additional 1 % will be charged as it is meant for inter-state transfer. Moreover, still GST is at draft stage.Final opinion can be given after enactment only.

[Ganeshan Kalyani]

Intra state stock transfer should not be taxed and one GST registration will be offered first. So if one return is filed then there should not be tax on the same.

[SANDESH SHINDE]

Dear Sir, Under GST regime payment should be done first or to file returns first please explain.

[Ganeshan Kalyani]

As of now it is just a draft and therefore it will undergo many changes.

[SANDESH SHINDE]

Dear Sir,

Even though but as per this draft whether it would be required to do payment first of to file the returns first.