Purchasing in cloth business at 5%, after GST- 12%. How to claim 7% balance tax under GST?

I am a cloth business person. now I am purchasing with 5% tax. If Gst comes 12 % what about balance 7% tax claim.

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2 Answer(s)

If rate comes to 12% you will have to pay the GST on supply at that rate only. ITC of 5% will be allowed to you on filling the last return properly mentioning the credit available.

Answered on May 15, 2017.
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no

Answered on May 20, 2017.
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Your Answer

Gen GST