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Taking ITC regards
We are buying polyester cotton yarn of HSN 5509 (12%) & processed in looms and made it as woven fabrics. Sold it on HSN code 5516 (5%). We are taking of ITC 12%. Is correct?.
Replies (5)
Yes it is correct.
You will be eligible for refund under inverted duty structure scheme
Please explain "You will be eligible for refund under inverted duty structure scheme"
Since you are buying at higher rate and selling at lower rate itc will get accumulated. For this you can claim refund.
For further details you can mail me
Thank you sir
You are eligible to claim refund
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