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Pugal T & Pramit Pratim Ghosh

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  • Hello Tally team,

    My query is as follows.

    Wouldn’t the credit availbility to an importer for IGCST (CVD & so.cvd in current tax regime ) levied for imports hurt the local manufacturing Industry ?

    • As explained in the blog, stock transfers will now be taxable. Thus, tax will need to be borne by the manufacturer, but the ITC will be available only on completion of supply. Thus, there will be a blockage of working capital for the manufacturer, and they will need to be ready for that.

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