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Can we avail input credit if HSN code varies maintained by buyer and seller e.g.
A is a buyer maintained HSN code say 8538 @ 18% for x materials in his ERP, A is received X material @ HSN 8536 @ 28% GST from B and the same X material @ HSN 8537 @ 18% GST from C
How A can take input credit of X material since HSN is vary from two different vendors at two different rate. please any one can clarify.
You must identify, which HSN code is correct for ‘X’ material as released by govt. And use it accordingly. Ask your vendor/customer to rectify it.
Thanks,
But can you confirm whether HSN code from both buyer/seller then only we can avail input credit or without matching of HSN buyer can claim input credit.U will get input credit on the basis of data uploaded by your vendor, except in case of reverse charge. Even without matching you can take credit if your accounting software allow, but you will face problem at the time of assessment procedure. So it would be better to use correct HSN code.
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