Gst 12 % on fabric

Umar Accounting (Propritor) (26 Points)

02 August 2017

GOOD DAY ALL OF YOU

A client angage in fabric business . he purchase fabric gst 12% (HSN CODE 5903 ) AND after cut collar he sales fabric cut collar gst 5% (hsn code 6217 ) ,can he claim excess GST refund

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4 Replies

CA Gyati Gupta (In Practice) (7777 Points)
Replied 02 August 2017

Yes he can avail the Credit paid on purchases and carry forward the balance ITC. Refund can also be claimed.

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Umar Accounting (Propritor) (26 Points)
Replied 02 August 2017

THANKS YOU .

12 % GST MAI FABRIC PURCHASE KARKE 5% MAI CUT COLOR FABRIC MAI SALE KARE TO KOI PROBLEM TO NAHEE ?

Lalit Sangani (M.Com. Asst. Manager Account) (731 Points)
Replied 02 August 2017

Dear Umar,

Tax rate depends on HSN code, If your raw material comes under HSN code with 12% and after manufacturing or convert product to another form and it is come under HSN code with 5% than there are no any problem you will have to face.