How will GST Transform the Indian Wholesale Market?

Last updated on June 15th, 2017 at 05:33 pm

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Pugal T & Pramit Pratim Ghosh

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  • 28% GST rate on Belts & Purses, so many items of Stationery propses tax @ 12% & 18% is non practically right. In my view business in
    black will raise. Not a single businessman is likely to pay tax like 18% and 28%. If tax will minimum then customer will purchase goods
    with Bill, otherwise without bill, duplicate bill. Most of transporters charge 3 times freight for without bill. Customer generally pay 3 times freight and if any checking occurs in way he pays rishwat because tax is more than freight and tax. And after all he exempts from
    pay to income Tax.

  • With reference to comment about 100%/40% excise credit to non-excisable retailer depending on ascertainability, is the rule same for non-excisable manufacturers also?

    Further, if excise paid is not ascertainable from the invoice, how will the amount, of which 40% credit is to be availed, be established?

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