GST RATE RETROSPECTIVE RATE INCREASE

[ANIL NAIR]

Dear Sir,

What will be the GST % for Su.Invoice/Debit Note issued against retrospective rate increase w.e.f 01.07.17 to 14.11.17 for the items whose GST % has been changed from 28 to 18%. (HSN 4016- vulcanized rubber parts)

Thanks

AI Summary

GST Rate Change on Vulcanized Rubber: 28% to 18% Effective Nov 15, 2017; Time of Supply is Key A discussion on a forum addressed the issue of GST rates for invoices issued during a retrospective rate increase period. An individual inquired about the applicable GST rate for vulcanized rubber parts, whose rate changed from 28% to 18% effective November 15, 2017. Respondents clarified that GST changes are prospective, not retrospective, unless specified otherwise in the notification. Thus, supplies made from July 1 to November 14 should be charged at 28%, and only those made from November 15 onward should be charged at 18%. The time of supply is crucial in determining the applicable rate.