Transaction value on stock trfr to depot, Goods and Services Tax - GST

[Vishnu Dutt Gupta]

Dear Sir,

If we are doing stock transfer from manufacturing plant to depot's, In GST regime how much value we consider.

Actual value

Cost +10%

90% of value

Rgds,

MJ

Posts / Replies

[Himansu Sha]

In my view, another option is there, where the gst is available as credit, the value declared in the invoice is the open market price

[Vishnu Dutt Gupta]

Dear Sir,

Yes we can transfer on open market price but question is how can we use the setoff at depot level expenses.

Ex ; We transferred the goods on 100 rupees as market price then depot also billed to customer on 100 rupees. Depot is taking some ITC credit on services like loading, transportation, Manpower etc. then how can use this set off.

Rgds,

MJ

[Himansu Sha]

Depot will pay gst. During that time credit of the gst paid on loading and other charges will be taken. Utilising the credit the gst will be paid.

[Himansu Sha]

Depot price normally more than the factory gate price. Because the expenses are added here when goods sold to customer.