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+--- Thread: GST BASIC (/showthread.php?tid=9140)
GST BASIC - Pyara - 11-12-2010
Hi guys,
gst on consumer products is ultimately borne by end user.
So it output tax for a product comes to 10 Rs., the retailer sells at his price plus gst that is say, 100 + 10 = 110.
The consumer pays him 110 so the retailer in essence gets his output tax of 10 from the users, and that too is paid after adjustment of input tax.
Am I right?
I was actually wondering why do they cry if rates are increased? They don't pay anything from their pockets. What do u think?
Thanks
- LapTop - 11-15-2010
Payara Bhai,,,,,,,,,,,
Retailer sales tax apny turnover par dayta hay, plz read Special Procedure.
- Pyara - 11-15-2010
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by LapTop</i>
<br />Payara Bhai,,,,,,,,,,,
Retailer sales tax apny turnover par dayta hay, plz read Special Procedure.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Well thanks for providing useful info.
Perhaps I shouldn't have given the example of a retailer but i was talking about general operation of gst. I was trying to refer to products that we use everyday, if we check the price we have to pay, it includes gst. Isn't this the same thing, that becomes their output tax later?