Hello,
Footwear priced below Rs. 500/- are rated at 5% under GST and inflow of its raw material is at GST rate of 12% or 18%, so there would be accumulation of ITC or overflow of ITC.
I want to ask:
Is cash refund allowed here for ITC overflow under GST – for footwear industry?
Thank you.
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Cash refund for itc overflow - under gst
Replies (1)
yes...in certain cases refund is allowed....one of them is the one you are talking about.
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