GST refund under inverted tax structure

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Accountent
61 Points Posted on 19 January 2022
Basically we have manufacturers of fertilizers and traders and our out put tax is 5%, so in this case for manufacturing we by raw materials at 12%,18%, and 28%, for this difference tax can we claim GST refund under inverted tax structure
please clarify any one.
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On 19 January 2022 at 08:49 Report
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Quick Summary
Manufacturers and traders of fertilisers, whose output tax is 5%, can claim a GST refund under the inverted tax structure. This applies when they purchase raw materials at higher GST rates (12%, 18%, 28%) than their final product. The excess Input Tax Credit (ITC) accumulated due to this difference can be claimed back.

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CA
10436 Points Posted on 19 January 2022
Yes you can claim refund in this, I have already did this for some clients. You can send your contact details on ca.ajaakarshjain16 @ gmail.com for taking help.
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On 19 January 2022 at 09:22
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Practicing Chartered Accountant
959 Points Posted on 19 January 2022
Yes, you can claim the excess amount of ITC via inverted duty structure.
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On 19 January 2022 at 23:04

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