TMI BlogGoods and Services Tax - ITCX X X X Extracts X X X X X X X X Extracts X X X X ..... A company executing Job Work in the nature of manufacturing for registered person and charges 18% GST instead of 12%. I presume this should not come in the way of receiver of service taking full credit for 18% GST paid to the supplier. Will there be any action taken on the supplier having collected higher rate of tax (which is promptly remitted) Is my view is correct? - Reply By Rajagopalan Ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nganathan - The Reply = Sir, Normally the Department will not object your paying tax at higher rate. But they may raise a query that you have paid the tax at higher rate to facilitate your receiver to avail excess ITC then the eligible one. - Reply By KASTURI SETHI - The Reply = It is legally wrong to charge GST @ 18% instead of correct rate of 12%. The department will raise objection regar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding excess availment of credit as rightly opined by Sh.Ranganathan Sir. The person who has deposited the said with the Govt. may claim refund within stipulated period. The department is not supposed to keep track on such refunds, if any arises. So the department will resort to recovery of excess credit taken by the buyer/receiver. - Reply By Ganeshan Kalyani - The Reply = If you charge higher r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate then your rate of service will go high. It would be good for the competitor. - Goods and Services Tax - ITC - Query Started By: - Ethirajan Parthasarathy Dated:- 29-11-2019 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
