one of the my client registered as regular tax payer under GST, he was a manufacturer of Bio fertilizers and selling finished goods.
My question is buying chemicals under 18 percent HSN code, and selling 5 percent HSN code. Is this right process or any thing else to advise him.
2 Replies
Vatsla Alagh
(1545 Points)
Replied 29 August 2018
This is called inverted duty structure where tax payer is eligible for taking refund of excess ITC accumulated. But, make sure ur supply is taxable at correct gst rate
Vinod Babu
(24191 Points)
Replied 30 August 2018
Check the gst rate and hsn code of the finished products whether it falls under 5% or not.
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