Soybean purchase is @ 5% in gst while DOC is at nil rate. So in this case a manufacturer of DOC will not get any rebate of 5% gst paid on soybean?? If anyone has a reply to this plz reply.
Section 17 (2) – Where the goods or services or both are used by the registered person partly for effecting taxable suppliesincluding zero-rated supplies under this Act or under the Integrated Goods and Services Tax Act and partly for effecting exempt supplies under the said Acts, the amount of credit shall be restricted to so much of the input tax as is attributable to the said taxable supplies including zero-rated supplies.”
i am registered in gst dealing in cattle feed sale . please clesrified that cattle feed is excempted or Nil rate? and also tell me that if RCM is applicable then what treatment of Tax paid on ecm because i have no Output taxable supply?
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