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Commission and freight role in GST

Goods and Services Tax - Started By: - RAM SHARMA - Dated:- 2-9-2016 Last Replied Date:- 4-9-2016 - Dear Experts,We are manufacturer of exciasable goods and selling our goods through our various consignment agent in all over india against form F. We are providing 3% commission and freight to our consignment agent for selling our goods and availing service tax cenvat on such commission and freight up to the consignment agent warehouse. I would like to know your opinion in this regard after implem .....

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Input Tax credit is admissible subject to final product being taxable. - Reply By Ganeshan Kalyani - The Reply = Sir, seamless credit is aimed in GST, therefore every stage is proposed to be taxable and allowing the flow of Cenvat credit at every stage. Thus, exemption on stock which we have in current tax regime will go away. Tax has to be paid and the receiving unit shall be eligible to take credit in the manner prescribed in the Model GST Law. There is possibility that the Model GST Bill sha .....

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ould be chargeable to GST as per the proposed scheme. GST paid by the principal will be available to consignment agent / dealer as ITC and so no on subsequent sale. Therefore, it is bound that, the business strategy are going to change. The manufacturer, after GST, will decide to store the goods in the warehouse or with the consignment agent of the different state taking into account the economic considerations with keeping in mind the liquidity since fund may get blocked due to payment of GST o .....

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