GST Input Credit
Query (Issue) Started By: – Ethirajan Parthasarathy Dated:- 3-8-2018 Last Reply Date:- 7-8-2018 Goods and Services Tax – GST
Got 4 Replies
GST
A supplier is engaged in business of knitting and fabric manufacture.
For supply of fabric the GST output rate is less than input tax paid for inputs.
Till 27-07-18 the supplier was taking tax credit of full input tax credit for all inward purchase /services against out tax payable on knitting (labor charge) and fabric sale.
As per notification No 20/2018-Central Tax (Rate) dated 26.07.2018 date of CGST (Rate) the unutilized input tax on certain inputs for fabric activity available as o 31-08-18 will LAPSE.
I am of the opinion that the above notification regarding La
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