Inverted Duty Structure Refund

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..... Inverted Duty Structure Refund
Query (Issue) Started By: - Ranjith Reddy Dated:- 7-8-2019 Last Reply Date:- 10-8-2019 Goods and Services Tax - GST
Got 5 Replies
GST
Provision where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on output supplies (other than nil rated or fully exempt supplies), except supplies of goods or services or .....

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..... both as may be notified by the Government on the recommendations of the Council Situation However in our situation there are outward supplies (Rates 5,12,18,28) and inward supplies (Rates 5,12,18,28) which are taxed at multiple rate of taxes and also the output liability is less than inputs(ITC). Question Kindly advise in my case the refund under inverted duty structure is valid? Reply By KAS .....

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..... TURI SETHI: The Reply: What are your products ? Have you composite supplies ? Reply By KASTURI SETHI: The Reply: As per Section 54 (3)(ii) of CGST Act (ii) where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on output supplies (other than nil rated or fully exempt supplies), except supplies of goods or services or both as may be notified by th .....

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..... e Government on the recommendations of the Council : In my view, you are entitled to refund claim provided you prove that in respect of some goods cleared by you, attracted lower rate on final products because of multiple tax rates. Further, in my view CMA's certificate can help you in this aspect. Reply By Ranjith Reddy: The Reply: No we are not composite dealer, we are manufacture of Trac .....

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..... tor and tiller products. Reply By KASTURI SETHI: The Reply: My reply remains the same. However, I would like to mention here that 'Composition Dealer' and 'Composite supply' are different terms. Reply By SHARAD ANADA: The Reply: You are eligible for refund of duty inverted structure Please refer circular 79/53/2018-GST dated 31.12.2018 para 4
Discussion Forum - Knowledge .....

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..... Sharing .....

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