EMBROIDERY JOB WORKER LOSS

Question

I M A EMBROIDERY JOB WORKER…MY YARN PURCHASE BILL ATTRACT 18% GST CHARGE WHICH I HAVE TO PAY…ON THE OTHER SIDE IN MY BILLING AMOUNT I HAVE TO ONLY CHARGE 5% GST AS I M A JOB WORKER…THE DIFFERENCE OF 13% I HAVE TO MAKE A LOSS?????

ONE MORE QUESTION TO ITS ADDITION I HAVE PAID 18% GST OF THE PURCHASER, HOW MUCH INPUT TAX CREDIT I WILL GET????

in progress 0
NIK 4 years 1 Answer 338 views 0

Answer ( 1 )

  1. Refund of unutilized input tax credit can be claimed in the following two cases under GST:

    Unutilized input tax credit on zero-rated goods/services on which no payment of tax was made can be claimed as refund.
    Accumulation of unutilized ITC due to higher tax rate on inputs than the output supplies (other than zero-rated/exempted goods)

    In your case you will get refund from deptt. by applying in following manner:-

    Any person claiming the refund of the GST tax, or the interest paid should make an application within a period of two years from the relevant date using the Form GST RFD-01 electronically. A registered person may claim the balance available in the electronic cash ledger by filing the return as per the dates mentioned under GST.

Leave an answer

Sorry, you do not have a permission to answer to this question .