Itc
This query is : Resolved
Quick Summary
08 October 2020
we are packer of mustered oil from drum to small tin which is taxable at the rate of 5% under gst but we has purchased packing material with 18% rate can i claim refund of gst of 13% from governmet
13% - (18%-5%)
kindly suggest me its very urgent
13% - (18%-5%)
kindly suggest me its very urgent
CA R SEETHARAMAN
(Expert)
08 October 2020
You can claim ITC on paking material. Such ITC gets adjusted in your margin on sale.
Lekhraj sood
(Expert)
08 October 2020
Yes, you can file refund of accumulated ITC under section 54(3) as refund under inverted duty structure.
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