Suppose I acquired certain goods at Rs 100/- and paid GST @ 5% i.e GST = Rs 5/-, and after incurring certain expenses like warehousing and transportation, I am further selling the goods to my customer at Rs 98/- charging GST @ 5% i.e Rs 4.9/- after giving a special discount.
1. Can i get refund of this accumulated credit of Rs 0.1/- (Rs 5 - Rs 4.9)?
2.If not, Is there any restriction to keep this Rs 0.1/- as credit and to use in paying tax at the time of further supply?
3.What if, this reduction in value is due to a subsidy of CG or SG, can i claim refund of accumulation in that situation?
CAclubindia
