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
Umar Accounting (Propritor) (26 Points)
02 August 2017GOOD 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
CA Gyati Gupta
(In Practice)
(8427 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.
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)
(736 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.
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training
CAclubindia
