GST input adjustment

[Arun Aggarwal]

SIR

After the implementation of GST

I will be having GST input balance, as my finished product rate is less than the input GST rates.

What option do I have

1 refund of input lying balance

2 adjusting the same in the products where there is a reverse charge , like buying from Farmers and further sell the same.

Tnx for the reply in advance

Arun

AI Summary

Options for Managing GST Input Balance: Refunds vs. Reverse Charge Adjustment. Refund Suggested for Excess Credit. An individual inquired about options for handling a GST input balance, as their finished product rate is lower than the input GST rates. They considered either obtaining a refund or adjusting the balance with reverse charge transactions. Responses varied: one advised that reverse charge cannot be offset with input tax credit, another suggested that obtaining a refund is the only option if the credit is in excess, and a final reply indicated that the refund option might become clearer with time due to existing provisions in the act.