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GST rate deduction

Rate / HSN codes 258 views 2 replies

Ganesh Keshri

Buisnessowner

23 Points Joined August 2019

I have few products whose GST rates were 28% at time of purchase. Now the rate is reduced. How to sale those stocks at 12% now by making loss. Please help.

Replies (2)

pradeep goyal

Senior Partner

7561 Points Joined May 2017

you can claim GST input tax credit refunds for difference of 16% (12-28)

Uttam

employee

814 Points Joined August 2011

Purchase at 28% and sale at less than 28% would lead to inverted duty structure. i.e., Input Tax rate is higher than supply Tax rate.

Go for refund under section 54.