Rate difference
This query is : Resolved
11 November 2017
Govt has revised rate of GST from 28% to 18% & from 18% to 12%
Now we have purchased from suppliers at 28% earlier with the effect we have to give at 18% or 12%.
who will bear the difference ?
Can any one members reply
Vinod
Govt has revised rate of GST from 28% to 18% & from 18% to 12%
Now we have purchased from suppliers at 28% earlier with the effect we have to give at 18% or 12%.
who will bear the difference ?
Can any one members reply
Vinod
11 November 2017
Firstly, please wait for the relevant notification to be issued. The revised rates will be applicable from the date of notification only.
However, if your supplier agrees, ask him to give you a revised bill after the rate changes are implemented. Revised invoice should depict revised rate and revised date. Otherwise, you will have to pay as per original invoice.
However, if your supplier agrees, ask him to give you a revised bill after the rate changes are implemented. Revised invoice should depict revised rate and revised date. Otherwise, you will have to pay as per original invoice.
11 November 2017
You have to sell at 12% reduced rate and claim ITC on whatever rate you purchased.
Message likes :
1 times
11 November 2017
ok thank u may be accounting claritiy
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
