Purchased @18% gst, after Gst rate reduce to 5%
This query is : Resolved
26 October 2017
i purchases Rs 500000 goods Plaatic waste @18% gst paid. from 6 th october 2017, gst rate on Plastic waste 5% , whether i have reverse 13% itc reversed ???? pls explain
26 October 2017
Applicability of 5%rate came into effect from 13th Oct 2017.
If any dealer gave you the invoice @18% from 13th October then ask them to issue revised invoice as they have not followed the rate revision notification.
THAT'S ALL.
26 October 2017
I purchased 18% , after 13 october rate of tax 5% , can i sale goods @5% gst. can i claim 13% itc.
26 October 2017
Your balance ITC will be adjusted against your future liablities.
26 October 2017
If you invoice after 13 th October you have raise latest GST rate, you can adjust excess Tax Paid ITC against future liability.
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