one of the my client registered as regular tax payer under GST, he was a manufacturer of Bio fertilizers and selling finished goods.
My question is buying chemicals under 18 percent HSN code, and selling 5 percent HSN code. Is this right process or any thing else to advise him.
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Replies (2)
This is called inverted duty structure where tax payer is eligible for taking refund of excess ITC accumulated. But, make sure ur supply is taxable at correct gst rate
Check the gst rate and hsn code of the finished products whether it falls under 5% or not.
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