We 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?
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
