Refund of unutilised input tax credit
Query (Issue) Started By: – Yatin Bhopi Dated:- 31-10-2017 Last Reply Date:- 15-11-2017 Goods and Services Tax – GST
Got 7 Replies
GST
Dear expert
We 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
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efund of such tax paid on goods or services or both supplied,
in accordance with the provisions of section 54 of 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.
Regards
S.Ramaswamy
Reply By Yatin Bhopi:
The Reply:
Dear Sir
Since 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 ava
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