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Credit on Opening stock, Goods and Services Tax - GST |
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Credit on Opening stock |
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Dear Expert Whether CST 2%( paid on Inter state purchase ) credit allowed on opening stock under GST regime Regards Vivek Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
The answer is big NO CST paid@ 2% on opening stock will not be allowed in GST regime.
The credit which is not allowable in the existing law will also not be allowable under gst act
What will the input tax credit in GST (18%) for VAT @5% ???? e.g. ₹10000/- paid VAT is on books for purchase of 2 lacs...now if sale is made of 2 lacs , GST wil be @15 % = ₹36000/- How much tax should be deposited ?????? Page: 1 Old Query - New Comments are closed. |
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