Goods and Services Tax – Started By: – Yatin Bhopi – Dated:- 31-10-2017 Last Replied Date:- 15-11-2017 – Dear expertWe are procuring goods locally on the payment of SGST+CGST and supplying goods to SEZ without payment of taxes under LUT. Now we are not able to utilise ITC paid on purchses since there is no other taxable supply.Please let me know whether is there any provision of claiming refund claim of unutilised ITC. – Reply By MARIAPPAN GOVINDARAJAN – The Reply = In my view, no refund is possible. – Reply By Yatin Bhopi – The Reply = is there any way to overcome this situation. – Reply By Rajagopalan Ranganathan – The Reply = Sir, As per Section 16 (1) (b) of IGST Act, 2017 supply of goods or services or both to a Special Economic Zone
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
the Central Goods and Services Tax Act or the rules made thereunder. – Reply By Yatin Bhopi – The Reply = Thanks a lot Sir – Reply By Ramaswamy S – The Reply = Supplies to SEZ is a physical export. Since all the supplies are only to SEZ, suggest to pay the IGST on the goods supplied to SEZ instead of LUT. Refund of the IGST paid is allowed and is easier relatively compared to the refund of unutilised ITC.RegardsS.Ramaswamy – Reply By Yatin Bhopi – The Reply = Dear SirSince CGST+SGST credit is accumulated, we can not able to utilise it to pay IGST.In this situation as mentioned by Mr. Rajagopalan Ranganathan Sir only option available is to take refund of unutilised input tax credit. – Reply By Ramaswamy S – The Reply = CGST and SGST can be u
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =