Dear Sir,
Is there any provision to claim refund of ITC when the material purchased was of 18% and the end product after assembling or manufacturing would be sold at less rate of GST?
Yes, we can claim refund in this case.
Sec 54(10) says that registered person can claim refund of unutilized input tax credit if rate of tax on inputs is higher than rate of tax on outputs
Yes, we can claim refund in this case.
Sec 54(10) says that registered person can claim refund of unutilized input tax credit if rate of tax on inputs is higher than rate of tax on outputs
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