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Refund under gst
CLIENT HAVING BUSINESS OF IMITATION ORNAMENTS. ITS INPUT RAW MATERIALS ARE TAXED AT AVG 15% GST . HIS FINAL PRODUCTS SELL AT 3% GST. IS IT SURE THAT HE WILL GET REFUND FOR HIS EXCESS CREDIT?
Replies (6)
first proviso to section 54 CGST act,2017
1) Refund of input tax credit will be allowed where rate of tax on inputs being higher than rate of tax on output supplies
Oh yes... You can get Refund... To follow the rules under Refund section wise....
will i get refund monthly or yea
will i get monthly refund or yearly?
Sir.,
Please find here
Can make an application within Two years from the relevant date
For relevant date check explanation to section 54
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