9911796707
TMI BlogGST RATE RETROSPECTIVE RATE INCREASEX X X X Extracts X X X X X X X X Extracts X X X X ..... GST RATE RETROSPECTIVE RATE INCREASE X X X X Extracts X X X X X X X X Extracts X X X X ..... parts) Thanks Reply By KASTURI SETHI: The Reply: It is not retrospective. It is prospective. No benefit is admissible for the past period. In case the Govt. intends to give benefit for the past period, it shall be mentioned specifically in the notification itself. If nothing is mentioned, the date of issuance of notification is effective date. Reply By ANIL NAIR: The Reply: Sir, The retrosp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ective increase was given by our customers. i.e. the rates of our products were increased w.e.f. 1.7.17. The invoices for which were issued by us @ 28% GST. After 15.11.17 the GST % of the these items become 18%. My doubt is whether we have to charge 28% against the supplies made from 1.7.17 to 14.7 17 or the present 18%? Thanks Reply By ANITA BHADRA: The Reply: Dear Sir I agreed with Kasturi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sir's view . Any changes will be effective from the date of notifications unless specified for applicability with retrospective effect. In your case , Supply from 01 July to 14 July will be 28% and only the items supplied w.e.f. 15 July , new rates will be applicable . Here , time of supply plays a very important point . You have to ascertain time of supply as per Sec 12 of CGST Act for asce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtaining rates .
Regards
Reply By Gorantla Bhaskar Rao:
The Reply:
Dear querist,
I agree with the views expressed by the experts.
Reply By ANIL NAIR:
The Reply:
Thanks for sharing your views X X X X Extracts X X X X X X X X Extracts X X X X
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