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TMI BlogRefund of Inverted duty iF Trading and Manufacturing salesX X X X Extracts X X X X X X X X Extracts X X X X ..... A pharmaceutical company is applying refund under GST for inverted duty. The company also has some sales of raw material as it is treating it as trading sales. These trading sales are not covered unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r inverted duty as per law. Please let us know how to compute refund in this case : 1. Whether we have to deduct trading sale from adjusted total turnover and inverted structure sale both as per the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ormulae provided. 2. or We continue to include trading sales in both inverted and total adjusted turnover (ignore trading effect of sale). Note : here trading of raw material and sales of manufactured ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... goods both are chargeable to 12%. - Reply By Padmanathan Kollengode - The Reply = There are still some lack of uniformity/ certainity in this aspect and the Dept is approaching different methods, whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch is bringing down refund amount. - Refund of Inverted duty iF Trading and Manufacturing sales - Query Started By: - deepak gulati Dated:- 5-7-2024 Last Replied Date:- 22-7-2024 Goods and Services ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax - GST - Got 1 Reply - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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