TaxTMI 
TaxTMI 
TaxTMI 
GST rate change from 12% to 5%. What should be done post 22nd Sept
X X X X Extracts X X X X
X X X X Extracts X X X X
....ST rate change from 12% to 5%. What should be done post 22nd Sept<br> Query (Issue) Started By: - Sreenath Dated:- 7-9-2025 Last Reply Date:- 8-9-2025 Goods and Services Tax - GST<br>Got 6 Replies<br>....
X X X X Extracts X X X X
X X X X Extracts X X X X
....GST<br>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....
X X X X Extracts X X X X
X X X X Extracts X X X X
..... Please clarify Reply By Sadanand Bulbule: The Reply: Effectively you have to charge reduced rate of tax @ 5% as per the fresh Notification prevailing as on the date of invoicing. Reply By Sreena....
X X X X Extracts X X X X
X X X X Extracts X X X X
....th: The Reply: Okay.in this case I will lose in less ITC credit. How do I hear this loss? Please clarify Reply By Sadanand Bulbule: The Reply: You can pay GST dues using the entire ITC claims....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... even after the new tax rates are rolled out from September 22. So you are not incurring any loss. Reply By Shilpi Jain: The Reply: Credit of GST will not be lost. You can claim the 12% GST on your ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....inwards (assuming you are a trader), even though you pay only 5% GST. Reply By Shilpi Jain: The Reply: In case you cannot use this excess ITC (12-5%) you can consider applying for refund. THe FAQ gi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ven in this regard is not in line with the law. Reply By KASTURI SETHI: The Reply: I support the views of both experts at serial nos.1,2 & 3 above. Regarding the refund claim, litigation is de....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ad certain.<br> Discussion Forum - Knowledge Sharing ....