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sir I am a footwear manufacturer and my sale value is below 500 . most of my purchase attract 12% and 18% respectively. government has levied tax of 5% on footwear which is below 500 inr . I just wanted to know if we will be getting the excess input credit of our purchase? and also what are the ways of getting the refund?
Replies (2)
You'll get only refund as your tax rate on output is less than the tax rate on input. You can file Refund application online in Form GST RFD-01.
But you have to prove that incidence of tax has not been passed on to the recipient with documentary evidence.
Declaration is sufficient if the refund claim is less than Rs.2 lacs.
But you have to prove that incidence of tax has not been passed on to the recipient with documentary evidence.
Declaration is sufficient if the refund claim is less than Rs.2 lacs.
sir actually some people were saying that no refund would be made if our tax rate lies in 5% gst
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