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Tagged: GST Input Credit
- Udhav VaidParticipantJuly 2, 2017 at 4:01 PMPost count: 1Topics: 1
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I have a GST input credit question i would like to clear :-
Company B buys raw material (Alloy steel blooms) from SAIL at 18% GST rate due to HSN code used for clearing material. But company B sells the material to company C at 5% GST rate due to HSN code being used to clear material. What will happen to the differential in the rate% when input credit is being requested? What credit shall be given to Company B? Company C clears the material at 5% as well.
Also, if supposing Company C is exempt from taxes being a government company as well as using the material for self consumption, then what will happen to Input credit of Company B when they apply for the same?
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