XYZ imported goods and paid the IGST @ 12% but “STRICTLY UNDER PROTEST” since in their view as per the GST Tariff the rate applicable is IGST @ 5%. The IGST of 12% so paid on imports, they claimed full input tax credit of the same. However, while re – selling these goods in the domestic market i.e., trading activity, they charged GST @ 5% in the Tax Invoice which according to them is the correct GST rate. Will this create any problem for XYZ?
Kaustubh Karandikar Asked question December 23, 2020
Should not be an issue if 5% is the correct rate. However Departmental harassment cannot be ruled out.
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Frah Saeed Changed status to publish January 13, 2021