We are into manufacturing products and sale of it to wholesalers. There are a lot of consumables utilised in the process and most of them are at 18% rate. My question is can i offset this 18% towards my end product sale apart from writing the taxable amount of bill as my manufacturing expense ?
Under GST everything you purchase is eligible for GST input credit, except few items such as food for consumption.
Consumables used during manufacturing process are very well eligible for input credit.
You can take input credit on these consumables.
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