Clarification required on some queries realted to GST

[Guest]

Dear Sir,

Request you to please provide some clarity on some queries related to GST.

1	Stock needs to be minimum exit March'17. WHY??
2	Why should we bill in Feb and Mar to do stocking if landing prices are to come down due to reducing in Tax, will company compensate on this??
3	Will there be a price parity in market, as inflitration will stop from other markets??
4	Will Tax adjustments stop after GST or will they continue as this effects operating prices??
5	Ambigiuity regarding Levied TAX structure on Different Products.
6	Sale & Purchase A/c Recociliations & its Differentiations.
7	Stocks Maintenance Criteria
8	What will be Tax imposition on Present Stocks & left over Stocks.
9	What will be scheme structure after GST
10	Campany will pay diff of tax on march stock if change happen in april ?
11	In bill rebate will increase or remain same
12	Above 1.5Cr.turnover need to submit tax related documents to both governments (State & Central)?
13	How better from VAT system & difference.
14	Why should I do billing in March 2016.
15	Need more clarity of GST.
16	Should I carry stock or not.
17	Can we bill to those dealers who don’t have TIN no. without any personal information like address / ph.no.
18	Need to maintained controlled stock.

[Ganeshan Kalyani]

All your above question will be answered if you read revised Model GST law. Pls go through the same.

[KASTURI SETHI]

The querist should not expect such comprehensive reply on this forum. Practically as well as logically it is not feasible.

[Ganeshan Kalyani]

Agreed sir. In order to provide reply an expert shall have to thoroughly verify the business process with material facts and practical approach of the business. Some business may have positive impact due to GST and some may have to comply under GST . Hence it is not easy to give any kind of reply of views on theses questions in any forum . Thanks.

AI Summary

Goods and Services Tax transitional and compliance issues require clarity on stock billing, tax adjustments, and documentation. Goods and Services Tax implementation raises queries on transitional treatment, timing of billing, stockholding strategy, and whether reduced tax rates or GST will require compensation for price differences. Additional operative concerns include persistence of tax adjustments post-GST, tax structure across products, reconciliation of sales and purchase accounts, maintenance of controlled stock, tax treatment of existing and leftover inventory at transition, rebate continuity, and documentation and registration requirements for dealers. Respondents recommend consulting the revised model GST law and conducting a business-specific review for tailored answers.