GST rate change from 12% to 5%. What should be done post 22nd Sept

[Sreenath]

Hi

The product that I sell falls under 12% with the rate revision it will be 5% after 22nd Sept. At what rate should I bill my customer for the exisring stock in hand happening after 22nd Sept.

Please clarify

AI Summary

GST cut to 5% from 22 Sept: invoices after that date use 5% and accumulated ITC may offset liabilities Following a notification reducing GST from 12% to 5% effective 22 Sept, taxable supplies invoiced after that date must be billed at the prevailing rate (5%). Concerns about losing input tax credit (ITC) are addressed by allowing taxpayers to utilize accumulated ITC to discharge GST liabilities arising after the rate change, meaning ITC can offset the reduced-rate output tax and should prevent a net loss of credit entitlement.