dear team please advice that I am collecting tax 18 percent on job work of metal coating and taking the input of ITC. pls provide any circular on this that I am collecting the right.
2. GST audit is saying that u have to take GST only 12 percent only without ITC is it correct or wrong pls advise.
pls provide the circular for above...
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Job work GST rate and ITC
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The correct rate for job work in general is 12% but even then ITC is available
job work GST circular 126/45/2019
GST payable @ 12% with ITC available.
Correct rate of GST on job work (where the principal is registered) is 12%.
You may refer Circular 126/45/2019-GST dated 22.11.2019. Read para 2 along with para 4 of the circular.
Further, there is no ITC restriction. ITC can be availed fully.
Correct rate is 12%
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