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We can all see that ...reminded of a proverb for some reason..

 

I've learned two things the hard way: You can't fix stupid and you shouldn't use up your patience to fix stupid.


Pay no mind to those who talk behind your back, it simply means that you are two steps ahead !!!

I get ideas by all your reply but list still not as per my requirement . I want with rate list product wise. Percentage of down and up .


Santosh Kumar Singh


http://experienceofknowledge.blogspot.com/

 

It is not fair to expect such list here in the forum. You can visit concerned sites for such information.

The GST will not affect prices everywhere the same way. Now there is same indirect ax everywhere. But as on today, there is ot of tax variance in different states.  The local sale Tax/ VAT differs from state to state.  So, if the GST is less than central excise+ GST in a state, the price should come down.  On the other hand, there is possibility of GST being more than the current central excise plus state VAT. in some state. In that case, GST should push up the price.  As I wrote in a previous post, tax is not the only factor affecting price. The relative scarcity, demand/ supply position make difference.  Moreover, electricity and petrol/ diesel  are outside GST.. The inclusion of cost of petroleum and electricity in overall cost  make the task of forecasting price more difficult.

Also, the tax benefit may not be fully passed by trader to consumer.. No doubt, anti profiteering clause   has been inserted in GST law to ensure that the benefit of tax reduction goes to ultimate consumer. But we don't know how effective the anti profiteering clause will be in practice. 


G. K. Ajmani Tax consultant
http://gkajmani-mystraythoughts.blogspot.com/

Thank you said by: rambabu

Gulshanji, could you give a working example of how an invoice would look taking GST and local taxes into account. Thank you.

vijay wrote:

Gulshanji, could you give a working example of how an invoice would look taking GST and local taxes into account. Thank you.

An invoice should show CGST and SGST separately.   If rate of GST is 28%, both CGST (central GST)  and SGST (state GST) will e 14% each.  In case of  inter state supply, the rate will be 28% IGST (Integrated GST) containing element of SGST.  In case of inter state supply, the state in which consumption takes place gets the tax.  

Presently, invoices show central excise duty and state VAT when a manufacturer issues invoice. Now such invoice will show instead CGST and SGST.  Secondly, presently, central excise duty is added to value  for levy of state VAT.  But now CGST and SGST will be on same value. 

I am giving here  link for specimen of invoice under GST regime. 

https://www.aces.gov.in/Documents/draft-formats-under-invoice-rules.pdf

http://www.profitbooks.net/gst-invoice/

 


G. K. Ajmani Tax consultant
http://gkajmani-mystraythoughts.blogspot.com/

Thank you said by: rambabu, vijay

Thank you for the info.

But the Opposition is against GST.Additionally, merchants, especially Cloth Merchants demandingwithdrawal  oft tax. Now it is worth watching, what the concerned Minister is going to do in this regard

Still, no one is not soo clear about GST. But the government had listed some products. Here it is :

437430_2_GSTSCHEDULE.pdf (You do not have access to download this file.)
Thank you said by: rambabu
Yes it's a good and detailed link on GST
Thank you said by: Aditya tripathi
Santosh Kumar Singh wrote:

As per my point of view Home product will be costly from 1st July 17. I seen lot of people buy fridge ,AC and washing machine this time.

It's not that much. 

437432_2_GST-Rates.jpg (You do not have access to download this file.)
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