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

From Sept 22, bill supplies at 5% GST; earlier 12% ITC can be used against liabilities or claimed as refund From 22 September the applicable GST rate is the reduced rate in force on the invoice date, so supplies made after that date must be billed at 5% even for existing stock. Input tax credit already availed on earlier purchases at 12% can be used to discharge current GST liabilities, so there is no automatic loss of ITC; any excess credit (difference between earlier ITC and current output tax) can be utilized against other liabilities. If excess ITC cannot be set off, a refund claim may be pursued, but administrative guidance may conflict with law and could lead to litigation.