Input credit

This query is : Resolved

kiran (Querist)
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04 December 2017 Sir,
If we have some amount of input against GST payable as on 30.11.2017 upto which we have charged 18% of GST.
After which we have opted for composition scheme and levying only 5%.
Now can we take the benefit of that un availed input as on 30.11.2017
Can we utilize it or can we claim refund?
Regards,
Kiran.

Guest

Guest (Expert)

05 December 2017 Amount of credit in stock held on 30.11.17 has to be reversed.

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kiran

kiran (Querist)
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05 December 2017 Cant we get the refund??

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Guest

Guest (Expert)

05 December 2017 No you cannot get the refund.You have to reverse the that much of credit as specified above.

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