Reg.: GST Refumd
Query (Issue) Started By: – Yash Jain Dated:- 29-8-2018 Last Reply Date:- 11-9-2018 Goods and Services Tax – GST
Got 15 Replies
GST
Dear Sir\/Madam,
\nWe had exported goods as zero rated in FY 2017-18 against which we had accumulated significant ITC (input tax credit), in form of CGST and SGST.
\nBut in FY 2018-19, due to strong domestic sales (inter state) we have utilized full ITC (CGST) portion , leaving us with balance of SGST only.
\nNow my question in this regard is as follows,
\n1. Can I claim CGST credit portion from SGST balance apart from SGST refund.
\n2.If I m not eligible for CGST refund from sgst portion, then can I apply for SGST portion atleast.
\nPlease reply
\nRgds
\nReply By Ramaswamy S:
\nThe Reply:
\nSGST can be utilised for payment of IGST.
\nSGST cannot be utilised for CGST.
\nRegards,
\nS.Ramaswamy
\nReply By Yash Jain:
\nThe Reply:
\nDear Sir,
\nThanks for the Reply.
\nBut my query is that as to whether Can i Claim "ITC Refund" For SGST Only <\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n om my "SGST Input" .(Reason : As we can offset SGST Liability by IGST Input Or IGST Liability from SGST Input). = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n e exports, I Had procured the Goods under CGST and IGST say for ₹ 50. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Reg.: GST Refumd Query (Issue) Started By: – Yash Jain Dated:- 29-8-2018 Last Reply Date:- 11-9-2018 Goods and Services Tax – GSTGot 15 RepliesGSTDear Sir\/Madam, We had exported goods as zero rated in FY 2017-18 against which we had accumulated significant ITC (input tax credit), in form of CGST and SGST. But in FY 2018-19, … Continue reading “Reg.: GST Refumd”<\/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-13413","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13413","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=13413"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/13413\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nThe main purpose of Claiming Refund is to convert Input into cash and Save CC Interest, please.
\nReply By KASTURI SETHI:
\nThe Reply:
\nWhy you say IGST refund from SGST input specifically ? This is question is not correctly phrased.
\nReply By KASTURI SETHI:
\nThe Reply:
\nRead, "This question is not properly drafted".
\nReply By Yash Jain:
\nThe Reply:
\nDear Sir,
\nI Regret for Inconvenience caused if any.
\nSir, at Present in My Electronic Credit Ledger I only have SGST Input (My CGST & IGST Input are "zero").
\nBut while making Exports Sir, I had procured Goods by Paying IGST. (At present My IGST Input is "Nil").
\nNow, In Offset Meachanism, Leaving Set Off of CGST and SGST among themselves, all other combination are permissible i.e Offsetting of
\n1. IGST Liability (by Way of IGST (First) + CGST (Second) + SGST (Third)) and similarly for
\n 2.CG<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nSo my Question is that whether from my SGST input of ₹ 100\/- can I get Refund of CGST of ₹ 50\/- .
\nThe government has issued the Circular No.:349\/21\/2016-GST Dated 04th September,2018 were in vide para 3.2 (part b) (Page No.:2)
\nThe abstract of the Circular is as under,
\n“3.2 After calculating the Least of three amounts, as detailed above, the equivalent amount is to be debited from the Electronic Credit Ledger of the claimant in the following order,;
\na. Integrated tax to the extent of Balance Available
\nb. Central Tax and State Tax\/UT Tax equally to the extent of the balance available and in the event of short fall in the balance available in a particular electronic credit ledger (say Central Tax), the differential amount is to be debited from the Electronic Credit Ledger, in this case”
\nHence please inform us that whether I can claim CGST Input from my Available SGST Input Balance in Electronic<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n