Input Tax Credit Reversal
Query (Issue) Started By: – kodhanda Ramakrishna Dated:- 20-2-2019 Last Reply Date:- 23-2-2019 Goods and Services Tax – GST
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GST
A Company is a manufacturing company primarily manufactures Sponge Iron, Billets and TMT Bars which are falling under chapter 72 and applicable GST rate is 18%. Each product has separate manufacturing divisions namely Sponge Iron Division, Steel Melting Shop (SMS) Division and Rolling Mill Division respectively and collectively called as Integrated Steel Plant (ISP) and final product is TMT Bars. The company has a captive power plant with a capacity of 60 MWH. The basic raw materials for power plant are Coal/Coal fines, Char and Waste Heat generated from Sponge I
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