ITC clarification reg

Dear Sir,

When there is a changes in the GST tax rate as per recommendation of GST council , how the differences in tax amount will be treated by business entity?

Example:
1. M/s. ABC limited purchased Lithium Iron Batteries by paying the input tax rate of 28%.

2. The goods are available with stock.

3. Before liquidation of these stocks, now the tax rate has been reduced to 12%.

4. After this tax rate changes, that company can sell these goods with newly reduced tax rate.

5. How this situation has to be treated by this company?

Kindly explain.
Replies (1)
The New tax rate is applicable when it's confirmed. No more effects in the books like You can avail the ITC as per Your purchase bills...

No more changes in the basic values...

Finally You ll get extra benefits like ITC using 6%

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
Featured 07 November 2026
Chartered Accountant

DPV & Associates

Chennai

CA

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details