Is it possible to the taxpayer they can use spare tax accumulated on raw material of footwear to liability arised on normal products ?

One is manufacturing normal products, where rate of tax on inputs and output is almost same, simultanously they manufacturing footwear where input tax rate is higher i.e. 18% and output tax rate is 6% it means its under inverted tax rate structure.

Is it possible to the taxpayer they can use spare tax accumulated on raw material of footwear to liability arised on normal products ?

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1 Answer(s)

If both the businesses are covered under same GSTIN and all inputs are for business purpose, then you can use the same for tax liability of other goods.

Answered on March 30, 2018.
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Gen GST