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
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Refund under GST
Replies (7)
Yes, you can file for refund
Refund is not depend on Tax rate its on Tax Amount.
Yes you can refund application.but it not depend up on rate of tax .It is determined by on tax amount.
Ok...what is limit of tax amount???
No problem.
You can get refund under Inverted duty structure.
You can get refund under Inverted duty structure.
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'
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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