what would be GST rate for textile jobwork. what would be the scenario if jobwork is charged @ 18% and final product is @ 5%.
in our case 50%of product cost consist of jobwork. in such case we will be entitled to refund every month. or there will be any retention.
please clarify.
in case where there is difference in input /output product , you are eligible for refund u/s 54(3) of CGST act. At the end of the F.Y. after filling annual return for the financial year , you may give an application in form GST RFD 01 electronically with all the relevant documents ( no. & date of invoices received & issued during a tax period , CA certificate, declaration etc) for refund, & within 60days of application . refund will be granted .Thus you will not get refund on monthly basis. & there will be blockage of working capital
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