Regarding inverted supplies for refund

Save Share

This query is : Resolved

Rajiv (Querist)

27 August 2018 Good Morning to All Expert,
Again i came to knew about Inverted Duty Supplies for apply for refund under GST.
Sir Suppose I have following input in the month of July 2018
Gst Rate Amount
1 IGST 18% 150000
2 IGST 12% 125000
3 IGST 28 % 140000
4 CGST & SGST 12% = 145000
Total INPUT = 560000
And Sir GST on Sale Output detail Following
1 IGST 18% = 75000
2 IGST 12% = 25000
3 IGSt 28% = 30000
4 CGST & SGST12 %= 55000
Total Amount = 185000
So Expert in that Case I Have Refund ( credit ledger) = 560000-185000 = 375000

Expert please tell me only that how will i make Inverted outward supply for getting refund. because different type tax rate are hare . please suggest
please. ???????

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

27 August 2018 Yours is not inverted outward supply, your sales are at the same rate of purchase.
You sale is less than purchase so you will be having stock for further sale. You can't apply for refund.

Rajiv

Rajiv (Querist)

27 August 2018 than sir how I will get refund ???~

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

27 August 2018 Why refund adjust in future sales.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now