Goods and Services Tax – Started By: – Prashanth Jadhav – Dated:- 26-9-2018 Last Replied Date:- 26-10-2018 – Dear Sirs,We had received a Purchase Order for supply of IT Hardware goods in February 2017. With the delivery Date being 05/07/2017.The Purchase Order Had Expired after this date due to site readiness issues at the customer end.The Purchase order was amended so that the delivery can be carried out. The revised purchase order mentioned SGST 9% and 9% CGST applicable with the purchase price remaining the same.Based on this the materials were delivered to the customer on 19/03/2018.While we had submitted our invoice for payment realization, the customer has with held the Tax component and released the base value of the product.The rea
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ransaction is under GST, the taxes would not be forming part of the cost and thus are not required to be passed on. – Reply By Yash Jain – The Reply = Dear Sir, Per Se, it appears that the contention of your customer will not hold good and following are the reasons , CVD and SVD have been subsumed in GST : Now CVD and SVD Will form part of Cost of your product as you have imported them in pre GST Regime and must not have taken the Credit of Same in trans 1. Hence they will form Part of Cost of your goods. (However if you have taken CVD and SVD Credit in trans 1, then please reduce the price by giving credit note to customer to that Extent). Anti Profiterring mechanism : As per information from Net, the same is yet to be drafted under Rule 1
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