New updated GST Rates % on Surgical Goods, Medical Equipment & Medical Disposables
This is the List of Gst Tax Rates on surgical goods and Medical Equipment.like Nebulizers, Digital BP Monitors, Air Mattress Etc.
The Gst rates on Medical Equipments have been decided by the Govt. We tried to interpret that which item of surgical goods falls in which HSN code or chapter.
Infinity Mediquip India
Digital BP Monitor Futura- Infi
Digital Smart BP Monitor- Infi
Digital Smart BP Monitor- Infi
Digital Bp Monitor
Fingertip Pulse Oximeter
Air Bed for Bed Sores
Air Bed for Bed Sore Infi
Air Bed for Bed Sores-Infi
Rs0 to Rs999=5%
Rs0 to Rs999=5%
Mannual Breast Pump
Non-Contact infrared Thermometer
Digital Thermometer Flixitip
Digital Thermometer Infi
Digital Thermometer My care
Lancet White Flat Type
Lancet Blue Round Type
Stethoscope S.Steel Futura
Stethoscope Aluminium Futura
Respiratory/Lung Excercisor (spirometer)
Nebulizer kit padeatric
Nebulizer kit adult
How to get your tally Data ready for GST Billing and add GSTN numbers and HSN codes in New Tally version 6 GST ready
Dear Dealers- Please
fill Your correct GST
DETAILS for billing
after 1st July
This is just an idea as per our findings.For more details please download the list uploaded.
Please find your particular products on page nos 192 to 194 or use Control+f to find the name in the list
DOWNLOAD COMPLETE GOVT GST-RATE-SCHEDULE-FOR-GOODS
- Supply of exempted goods or services
- Supplier is paying tax under composition scheme
How to Avail credit of your of Stock in Hand
GST- FOR STOCK LYING ON 30.06.2017
》GST will be implemented from 1st July 2017. Many taxpayers have huge stock lying. So what should be done for stock lying on 30th June?
Up to 30 June 2017 there are VAT, Excise, Service Tax laws but from 1st July 2017, GST will be implemented so what about the stock as on 30th June is the biggest question which everybody facing and it has created confusion among many.》The goods on which VAT is levied as per existing law, in GST-VAT will be transformed to SGST.
Similarly, now excise duty is levied on the manufacture, in GST excise duty will be transformed to CGST.
Whether taxpayer will get a credit of stock lying on 30th June 2017 in GST or not let’s discuss in detail!.
The Following Question emerges in every mind:
Q1.If the taxpayer is registered under VAT Act, then how he will get set-off of the stock in GST?
Ans: – The following two thing should be considered to avail the credit of stock:
1. If VAT is payable in the VAT return of 30th June 2017 i.e. taxpayer have taken the credit of inputs, then there is no question of taking credit.
2. If VAT is carry forward in the VAT return of 30th June 2017 i.e. excess tax credit is available, then taxpayer will get credit of that carry forwarded amount in SGST.
Ex. If the taxpayer has credit of Rs. 10,500 then it can be adjusted against SGST liability.
Q2. If any taxable person is registered under excise law, then how can he take set-off of stock in GST?
Ans: – It is also similar like VAT. If the taxpayer is registered under Excise Law then if in the Excise return of 30th June 2017, excise duty is payable then no question of set-off. But if excise duty is carry forward then taxpayer will get set-off against CGST. The taxpayer can also take the credit of not availed excise duty on capital goods in GST.
Q3. if any taxable person is not registered under excise law, then can he get set-off of stock in GST?
Ans: – If taxpayer is not registered under Excise law but he is registered in VAT law, then credit of VAT can be taken against SGST but what about CGST. In this case, if the taxpayer have the excise invoice which are in stock, then in GST 100% credit is available. But if no excise duty charged on that bill, then credit will be given as per GST rates in following manner:
1. If that stock covered in 18% or 28% in GST, then 60% of CGST can be availed as credit of stock. Ex. If there is 18% rate of GST on Spare parts, then 5.4% credit (60% of 9% of CGST) is available against the stock held on 30th June.
2. If that stock covered in 5% or 12% in GST, then 40% of CGST can be availed as credit of stock. Ex. If there is 12% rate of GST on any commodity, then 2.4% credit (40% of 6% of CGST) is available against the stock held on 30th June.
In GST taxpayer can use the above credit at the time of sale of goods. Further the taxpayer will have to use this credit within six months.
Q4. What should the taxpayer do if he have to take credit of stock in GST?
Ans: – Taxpayer will have to file TRAN 1 & TRAN 2 form for claiming credit of stock. In this form HSN wise details, its quantity, its rate, total value will have to be given. This information should be given to the government within 90 days. Credit of previous stock i.e. more than one year old stock is not available. It means if goods are purchased after 30th June 2016 then only credit can be taken.
Every trader should carefully understand these provisions of stock. Everyone should file revised return of VAT for the financial year 2016-17 if necessary after checking all books of accounts and then return of April to June to be filed.
Taxpayer should reconcile the VAT, Excise returns with books of accounts and then only file the above form to the government