Hi,
As a Manufacturing depot, We have sold material to customer same rate as received from manufacture plant and output liability also same as input liability.
Other Expenses ITC is accumulated.
Please suggest how can i utilised or is it possible to claim refund.
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Utilisation of excess ITC
Replies (4)
That ITC cannot be refunded. You can only utilise on your output sales. It seems that your profit margin is low. You will have to raise it to utlise the ITC
Sir @ Altamush Zafar
Is it possible that we raise bill low rate from manufacturing plant to depot then billl to customer higher rate from depot.
Is it possible that we raise bill low rate from manufacturing plant to depot then billl to customer higher rate from depot.
If you are going to charge depot at less value and then from depot at higher value then the depot should be registered under a separate GSTIN
Thank you sir for reply.
Manufacturing plant & depot are in different state.
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