Refund of ITC



suppose i make purchases of Rs 100 of different raw materials having different gst rates say 12% and 18% now the raw material cost me 116 including Rs 16 as gst
i add labour and other expenses and profit to it and make the final product priced at Rs 150 and the rate of gst on this product is 5%.
I WANT TO KNOW how much will i ITC GET in refund


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you can get Rs 16 as ITC because what we paid on inputs can adjust with output liability

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and you can get the refund of 8.50

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I.T.C. can be used but no refund.
 
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u r talking about cloth manufacturing unit i think where yarn is at 18 and cloth at 5
 
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no refund of itc will be given in cash
 
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mr naval in this case he yag get refund as per section 54(3)
 
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ok sir.
 
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You can adjust 7.5 and remaining 8.5 can take as refund.

 
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are you sure vinay goyal
 
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