GST IMPLICATIONS ON STOCK TRANSFERS

[SANDESH SHINDE]

Dear Sir,

Please explain us when there is stock transfer within state which GST would be levied, IGST or CGST & SGST and additional 1% will leaviable.Please explain, thanks & regards.

AI Summary

GST Forum Clarifies: Intra-State Stock Transfers Subject to CGST/SGST, No Additional 1% Tax A discussion forum addressed the implications of Goods and Services Tax (GST) on intra-state stock transfers. One participant asked whether IGST, CGST, or SGST would apply, and if an additional 1% tax would be levied. Responses clarified that intra-state transfers would attract CGST or SGST, not the additional 1%, which applies to inter-state transfers. Another participant mentioned that intra-state transfers should not be taxed, and only one GST registration would be needed. The conversation also touched on whether payment or filing returns should be prioritized under the GST draft, noting that the draft was still subject to change.