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Inverted Rate structure .
we are manufacturer of FMCG goods. Can we claim refund on Input services under inverted rate structure? Is there any new notification published by CBIC regarding refund of Input service in case of inverted rate structure.
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As a manufacturer of FMCG goods in INdia, you can claim a refund of input Tax Credit on input services under the inverted duty structure.
According to SEction 54 of the CGST Act, 2017, and Rule 89 of the CGST Act,2017, you can claim a refund if the tax rate on inputs is higher than the tax rate on outward supplies (inverted rate structure).
Regarding notifications by CBIC on refund of Input Tax Credit in case of an inverted duty structure for FMCG gooods manufactuers:
Notification No:41/2020_Central Tax dt:20-5-2020, and other relevant rules might apply.
You should check the latest notifications and circulars in GST official portal
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