Gst itc on consumables

ITC / Input 1813 views 1 replies

I have few queries regarding the input tax credit under GST:-

1) My finished and raw material both have 5% tax. But few consumables have 12% and 18% tax. Will I get full credit for consumables also or in some proportionate ratio?

2) My raw material has 28% tax while the finished good has 18% tax. Will I get full credit? Will I get the refund also if ITC is greater than my tax amount?

Thanks

Replies (1)

1. You will get full credit. No proportionate ratio etc.

2. You can get refund for excess credits due to inverted duty structure. ther eis a provision for interest if refund is delayed more than 60 days, though in practice refund should be processed within a week.

.Regards

www.gstsamadhaan.com

GST Samadhaan - Helping SMEs with GST


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details