Application for Refund of ITC on Export of Goods & Services without payment of ITC
Query (Issue) Started By: – viraf deboo Dated:- 27-8-2018 Last Reply Date:- 29-8-2018 Goods and Services Tax – GST
Got 11 Replies
GST
We are manufacturer exporter registered under GST. We are exporting our goods to various countries. We want to know that, whether Application for Refund of ITC on Export of Goods & Services without payment of ITC under LUT as per Section 54(3) (i) and Rule 89(4) of CGST Act 2017 is compulsory \/ mandatory??
\nWe have blocked \/ carry forward proportionate ITC in Electronic Credit Ledger as per formula given in Rule 89(4) of CGST Rules & to be applied for ITC refund in GST RFD-01A form on common portal. Kindly advice w<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n tion (3) of section 16 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), refund of input tax credit shall be granted as per the following formula – = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n s of Sri Ramasamy. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Application for Refund of ITC on Export of Goods & Services without payment of ITC Query (Issue) Started By: – viraf deboo Dated:- 27-8-2018 Last Reply Date:- 29-8-2018 Goods and Services Tax – GSTGot 11 RepliesGSTWe are manufacturer exporter registered under GST. We are exporting our goods to various countries. We want to know that, … Continue reading “Application for Refund of ITC on Export of Goods & Services without payment of ITC”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-13395","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13395"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13395\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nRefund Amount = (Turnover of zero-rated supply of goods + Turnover of zero-rated supply of services) x Net ITC ÷Adjusted Total Turnover
\nSir kindly advice that, whether it is compulsory \/ mandatory that we have to block \/ carry forward ITC in Electronic Credit Ledger as per above formula against zero rated goods & the same ITC will be applied for refund in GST RFD-01A FORM on common portal ??
\nReply By Ramaswamy S:
\nThe Reply:
\nThis is similar to rule 5 of erstwhile Cenvat Credit Rules.
\nThe refund of tax paid on inputs for exports without payment of IGST under LUT or bond <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nReply By Gorantla Bhaskar Rao:
\nThe Reply:
\nNicely elucidated by Shri Ramaswamy sir
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nYes, indeed.
\nReply By Yash Jain:
\nThe Reply:
\nSir,
\nWhen we apply for refund U\/s 54(3), the refund amount is automatically reversed in electronic credit ledger , which again depends on balance available as on date(I.e the balance on date when refund is filed)and not the date on which export is done\/gaye 3b is filed.
\nSir, now from your question I interpretate that you will export zero rated and claim ITC refund, by keeping in ecl the amount of refund (as per formula). In this case I would request you to please evaluate the option of paying igst (by input tax reversal) and claim refund, as this is lea<\/p>\n
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