Hello,
Footwear priced below Rs. 500/- are rated at 5% under GST and inflow of its raw material is at GST rate of 12% or 18%, so there would be accumulation of ITC or overflow of ITC.
I want to ask:
Is cash refund allowed here for ITC overflow under GST – for footwear industry?
Thank you.
Cash refund for itc overflow - under gst
Vikas Goyal (Self) (51 Points)
28 July 2017