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Definition of First and second stage dealer

Goods and Services Tax - GST - By: - Pradeep Jain - Dated:- 4-2-2017 - GST DAILY DOSE OF UPDATION Definition of First Stage Dealer Taking further to our discussion, we are continuing our discussion the definitions given under Section 2 of revised GST .....

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nufacturer under the cover of an invoice issued in terms of the provisions of Central Excise Rules, 2002 or from the depot of the said manufacturer, or from premises of the consignment agent of the said manufacturer or from where the goods are sold b .....

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a dealer who purchases the goods from a first stage dealer as defined in sub-section (46); This definition has been newly added in the revised draft law. The reasons behind this addition are the transitional provisions. Section 169 of the revised dr .....

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on was there in Model GST law for the dealers. As the cenvat credit of excise duty was not allowed to dealers, it would have also resulted in heavy burdening in terms of cost for them. The trade associations were demanding the transitional provision .....

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e is clear cut balance of credit can be worked out for them. Even they need not to follow the FIFO method. They can clearly tell which inputs are lying with them and invoice relating to them as well as the credit available for the same. This details .....

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