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Gst input tax credit adjustment

ITC / Input 319 views 4 replies
Sir, In our Firm, After GST We will Purchase the input @ 18% GST & sell the Product @ 5%GST so we will get the Credit of the 5% out off 18% but What about Remaining 13% input which we will paid excess..our HSN code is 8607 input credit not refund how to adjust remaining 13% gst.

 
Replies (4)
can transfer to p&l account

how to Adjust GSTR -3b

As per rule you will not get refund of remaning amount of HSN- 8607.. ( Railways Parts)

You can reverse the ITC GSTR 3B return...


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