A Company A sells goods to local distributor with GST. When local distributor sells to customers whether to charge GST on it or GST on Margin (profit). As per GST, tax to be paid once. Please clarify more
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Company Sell at 100 and charges GST 18. Dealer say having margin of 10 Sells at 110 and charges GST 19.80. Dealer get credit of Rs. 18 and pays only 1.80 balance tax out of sale proceeds. GST is a multipoint tax and is payable at every stage of supply but tax paid upto the previous stage is allowed as credit and can be used to discharge output tax liability. more
Jul 02
GST is not sell based. It is exclusively supply based. If a company in Uttar Pradesh supply product to Tamil Nadu then UP company has to bear the GST and the market price of the product will be same in all states. It avoids central excise, vat, sales tax, octroi, entry tax etc. etc. In long run it will be benefited to every citizen of India. Tax profit will be divided among Central & State equally. But I could not understand why Petroleum Products has been kept aside from the GST per view. more
Jul 02
GST is to be charged on selling price what ever it may be and what ever be the level of business relationship. The dealer is entitled to avail credit of tax paid more
Jul 02
