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Regarding rate difference under gst

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(Querist)
05 April 2018 My query is I have purchased Raw material for making "Payal" on which applicable rate is 18%. And When I convert the RM in to Finished Product i.e. "Payal". 3 % GST is applicable.
Finally I have got 15% ITC.

please elaborate the situation and consequences.

Thanks in Advance
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Saket Agarwal

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Saket Agarwal (Expert)
05 April 2018 Hi. This is known as inverted duty structure. If the input tax credit is accumulating because the rate of tax on output is less than that on inputs, then you can claim refund of the accumulates ITC. Please follow the procedure mentioned in section 54 read with rule 96(5).
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