Goods and Services Tax – Started By: – arun aggarwal – Dated:- 23-4-2017 Last Replied Date:- 25-4-2017 – SirI am a registered dealer and buying goods after paying vat of 13.5% locally and selling them on CST at the rate of 2%, and without claiming any refund adjusting the same in the other trading.Want to know that what will be the status of any input credit left with me when GST takes over and I will have no stocks but input creditArun – Reply By KASTURI SETHI – The Reply = Still so many rules are at draft stage. Picture will be clear only after finalisation of all GST Rules. – Reply By MARIAPPAN GOVINDARAJAN – The Reply = Only Telengana State has passed the SGST Bill. Other States have not yet come to the picture. As rightly said by Shri
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sees. – Reply By Govind Gupta – The Reply = Hi Arun, you are saying that what happens to the credit for goods which are not with you, i am not sure if i have understood your question correctly. – Reply By KASTURI SETHI – The Reply = Dear Querist, Sh.Govind Gupta has rightly raised query. How the balance of cenvat credit would be in your Cenvat Account without physical stock on the appointed day ? Pl. clarify your query. – Reply By arun aggarwal – The Reply = Sir I am referring to the case of vat and cst , where I buy goods locally after paying vat of 13.5% and selling them to the other state on 2% cst . So I have vat input left with me local vat – cst so no physical stock but balance input.It is not CenvatArun – Reply By MUKUND THAKKAR – Th
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