Hello
Experts,
I am purchasing goods under GST rate 18% and my sale is under 5% so am I liable to get refund on difference rate ???
please guide me
7 Replies
Amar Kumarshaw
(2 Points)
Replied 19 October 2019
Refund is not depend on Tax rate its on Tax Amount.
subhagan sreerangam
(7054 Points)
Replied 19 October 2019
Yes you can refund application.but it not depend up on rate of tax .It is determined by on tax amount.
Pardeep Garg
(CA-Final Student)
(801 Points)
Replied 19 October 2019
No problem.
You can get refund under Inverted duty structure.
You can get refund under Inverted duty structure.
CA Urval Solanki
(AM- Indirect Tax; Deloitte Mumbai)
(10 Points)
Replied 19 October 2019
Please refer section 54(3)(ii) of CGST Act, refund can be claimed,
''where the credit has accumulated on account of RATE OF TAX on inputs being higher than the rate of tax on output supplies (other than nil rated or fully exempt supplies), except supplies of goods or services or both as may be notified by the Government on the recommendations of the Council'
CA Dhruva Kalamanji
(Chartered Accountant )
(1996 Points)
Replied 19 October 2019
You can file refund under inverted tax structure option
Thank you
You can also write to me at sthayin @ gmail for further assistance
Thank you
You can also write to me at sthayin @ gmail for further assistance
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