Rohan Bagra (91 Points)
18 June 2023We are in a business where we have some input materials which are chargeable for 5% GST. Our output product is chargeable to 18% GST.
Because of this higher rate of Output GST there is a big burden on us for high prices whereas our profit is very limited.
Is there any relief available for us in GST laws?
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 18 June 2023
CA Altamush Zafar
(GST Consultant)
(15921 Points)
Replied 18 June 2023
There shouldn't be a burden on you since you will be getting the GST amount on outward supply from the buyers. It can prove to be a burden in the initial months but when the working capital will start to roll then there shouldn't be a problem. Reduce the credit period of your customers payment.... that will be my suggestion
CAclubindia
