‘A’ supplied goods to ‘B’ in April 2017, these goods were returned by ‘B’ to ‘A’ on June 2017. The tax rate charged by ‘A’ on such goods was 18%. In May 2017, the rate was amended to 18.5%. What is the tax payable on return of such inward supply by ‘B’ to ‘A’?

‘A’ supplied goods to ‘B’ in April 2017, these goods were returned by ‘B’ to ‘A’ on June 2017. The tax rate charged by ‘A’ on such goods was 18%. In May 2017, the rate was amended to 18.5%. What is the tax payable on return of such inward supply by ‘B’ to ‘A’? https://www.taxtmi.com/acts?id=22420 When goods supplied earlier at a specified tax rate are returned after a later rate amendment, the tax on the inward supply is the tax rate originally charged by the supplier at the time of the original supply, in line with GST FAQ guidance. en-us Thu, 22 Sep 2016 17:33:54 +0530 Thu, 22 Sep 2016 17:33:54 +0530 TaxTMI RSS Generator ‘A’ supplied goods to ‘B’ in April 2017, these goods were returned by ‘B’ to ‘A’ on June 2017. The tax rate charged by ‘A’ on such goods was 18%. In May 2017, the rate was amended to 18.5%. What is the tax payable on return of such inward supply by ‘B’ to ‘A’? https://www.taxtmi.com/acts?id=22420 When goods supplied earlier at a specified tax rate are returned after a later rate amendment, the tax on the inward supply is the tax rate originally charged by the supplier at the time of the original supply, in line with GST FAQ guidance. Act-Rules Bills Thu, 22 Sep 2016 17:33:54 +0530 https://www.taxtmi.com/acts?id=22420