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
Menu
Gst 12 % on fabric
Replies (4)
Yes he can avail the Credit paid on purchases and carry forward the balance ITC. Refund can also be claimed.
THANKS YOU .
12 % GST MAI FABRIC PURCHASE KARKE 5% MAI CUT COLOR FABRIC MAI SALE KARE TO KOI PROBLEM TO NAHEE ?
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.
thanks sir
Recent Threads
- E way bill expired penalty
- Best SME Focused AIF Funds in India for High Growt
- How does employee management software help in stat
- Clarification Required – Section 18 of Wage
- How to split freelance project income with a frien
- 194a for A y 2024-25
- Compensation & Benefits
- SAC code and GST rate transport services for anima
- Section 44AB is Gone — How Different is Tax
- Capital Gains from Cancelled Residential Project
Related Threads
CAclubindia
