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...
Menu
Job work GST rate and ITC
Replies (4)
Quick Summary
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%
Recent Topics :
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
Related Topics :
CAclubindia
