Hello
Experts,
I am purchasing goods under GST rate 18% and my sale is under 5% so am I liable to get refund on difference rate ???
please guide me
ganatra prakash (B.Com) (109 Points)
19 October 2019
Amar Kumarshaw
(2 Points)
Replied 19 October 2019
Refund is not depend on Tax rate its on Tax Amount.
subhagan sreerangam
(7039 Points)
Replied 19 October 2019
Pardeep Garg
(CA-Final Student)
(801 Points)
Replied 19 October 2019
CA Urval Solanki
(AM- Indirect Tax; Deloitte Mumbai)
(10 Points)
Replied 19 October 2019
Please refer section 54(3)(ii) of CGST Act, refund can be claimed,
''where the credit has accumulated on account of RATE OF TAX on inputs being higher than the rate of tax on output supplies (other than nil rated or fully exempt supplies), except supplies of goods or services or both as may be notified by the Government on the recommendations of the Council'
CA Dhruva Kalamanji
(Chartered Accountant )
(1996 Points)
Replied 19 October 2019
CAclubindia
