Purchase return with different tax rate

NAVEEN (Sr.ACCOUNTANT) (261 Points)

01 November 2019

we purchase an item with 28℅ tax rate and return the item (tax rate changed to 18℅) what is the tax rate application for the Credit note?

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5 Replies

Akshay Jain (Tax Consultant) (1024 Points)
Replied 01 November 2019

18% 5ax will be applicable

RAJA P M ("Do the Right Thing...!!!") (128106 Points)
Replied 01 November 2019

28% tax applicable as per purchase invoice...

Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 03 November 2019

As per Section 14 of CGST you are liable to charge 18% GST , the current prevailing rate

subhagan sreerangam (7059 Points)
Replied 03 November 2019

The current prevailing rate of tax is 18% as per Section 14 of CGST Act

RAJA P M ("Do the Right Thing...!!!") (128106 Points)
Replied 03 November 2019

No...

28% tax rate applicable based on Original Invoice Rate...

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