Gst itc on consumables

Nitin Agrawal (Director) (39 Points)

20 June 2017  

I have few queries regarding the input tax credit under GST:-

1) My finished and raw material both have 5% tax. But few consumables have 12% and 18% tax. Will I get full credit for consumables also or in some proportionate ratio?

2) My raw material has 28% tax while the finished good has 18% tax. Will I get full credit? Will I get the refund also if ITC is greater than my tax amount?

Thanks