What is inverted duty structure
Radhakrishnan (Accounts Officer) (122 Points)
22 April 2021
what is the concept of refund under inverted duty structure scheme
5 Replies
prasad Nilugal
(3914 Points)
Replied 22 April 2021
Inverted duty structure means Input Tax Credit is accumulated on account of , higher rate of Tax on Inward supply (purchase) than Outward Supply (Sales ) i,e Purchase of Goods 18% , Sales for 12% .
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 22 April 2021
The GST rate paid on purchases is more than the GST rate payable on sales. Archit Gupta. Under GST, the term 'Inverted Tax Structure' refers to a situation where the rate of tax on inward supplies (purchases) is more than the rate of tax on outward supplies (sales).
Radhakrishnan
(Accounts Officer)
(122 Points)
Replied 23 April 2021
Ok thank you for your immediate reply
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