04-14-2011, 11:09 PM
I don't mean refund of payment of 4% or 6%. Suppose A RP purchased 3 items to manufacture an item. out of three, he paid GST on 1 say @ 17% Rs.100. He made supplies to URP of Textile industry and paid GST @ 6%. Undoubtedly He can't claim or adjust GST paid on Supplies @ 6%. What will happen with GST paid as input i.e. Rs.100 which is receiveable / adjustable / refundable in the books of accounts. If it is gone / finish with 6% then manufacturere has to add Rs.100 in cost and supposed to be taxable @6% also. Is it an admissible expense or what. ???????????
