Input gst 18% & output gst 5%
S.S Bisht (Accounts Manager) (43 Points)
09 June 2017S.S Bisht (Accounts Manager) (43 Points)
09 June 2017
S.S Bisht
(Accounts Manager)
(43 Points)
Replied 09 June 2017
So we have to pay extra 13% in input withot getting credit.
ANISHA RAY
(67 Points)
Replied 09 June 2017
Amit Mishra
(assistant accountant)
(47 Points)
Replied 13 June 2017
Sir Glass Product Gst rate and how to Performa Invoice
shabab
(Internal auditor)
(47 Points)
Replied 05 July 2017
in the case of footwear manufacturing companies, most of purchases are under 18% and the finished footwear is under 5%. There is also existing the issue of more input (18%) than output (5%). What will do in that case.Is refund possible. Please give clarification.
Lalit Nagpal
(Assistant Manager)
(541 Points)
Replied 05 July 2017
you will get refund for more details Refer Section 54(3)
shabab
(Internal auditor)
(47 Points)
Replied 05 July 2017
Section 54(3) of GST ABOUT HIGHER INPUT RATE THAN OUTPUT RATE
Subject to the provisions of sub-section (10), a registered person may claim refund of any unutilised input tax credit at the end of any tax period:
Provided that no refund of unutilised input tax credit shall be allowed in cases other than–
Provided further that no refund of unutilised input tax credit shall be allowed in cases where the goods exported out of India are subjected to export duty:
Provided also that no refund of input tax credit shall be allowed, if the supplier of goods or services or both avails of drawback in respect of central tax or claims refund of the integrated tax paid on such supplies.
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(without recording)