GST Refund on zero rated supplies
Query (Issue) Started By: – Ankit Gangrade Dated:- 29-9-2018 Last Reply Date:- 11-10-2018 Goods and Services Tax – GST
Got 9 Replies
GST
While claimng "Refund of unutilised input tax credit on zero rated supplies",
\nCan we take refund of input tax credit on those input services which are capitalised with the value of capital goods in books of accounts?
\nReply By Yash Jain:
\nThe Reply:
\nDear Sir,
\nYes, we can take input for those input services which have been capitalized in the books of account, only with condition that the “Input” Should not have been capitalized.
\nReason : When we fill Form GSTR 3B, the refund amount in RFD-01 is autopopulated from the said form. Hence yes, ITC can be applied for refund, only if the said input is not capitalized.
\nComments from esteemed members highly solicited
\nReply By Ankit Gangrade:
\nThe Reply:
\nAs per my opinion, Refund of unutilised ITC on same input services not available because this ser<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ational that Capital Goods Credit cannot be asked for refund, then it will be deemed that ITC on Capital goods also , cannot be utilized for discharge for GST Liability for Domestic sales, and hence should lapse. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ns the value of zero-rated supply of goods made during the relevant period without payment of tax under bond or letter of undertaking; = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" GST Refund on zero rated supplies Query (Issue) Started By: – Ankit Gangrade Dated:- 29-9-2018 Last Reply Date:- 11-10-2018 Goods and Services Tax – GSTGot 9 RepliesGSTWhile claimng "Refund of unutilised input tax credit on zero rated supplies", Can we take refund of input tax credit on those input services which are capitalised with the … Continue reading “GST Refund on zero rated supplies”<\/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-14187","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/14187","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=14187"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/14187\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nHence considering aforesaid, we can easily take ITC Refund for Capital Goods.
\nComments from esteemed members highly solicited.
\nReply By Nitika Aggarwal:
\nThe Reply:
\nDear Sir,
\nIn my humble opinion, keeping in view the provisions of section 54 of CGST Act, 2017 read with rule 89 of CGST Rules, 2017, refund can be claimed only in respect of input and input services which are used for making such zero-rated supplies of goods or services or both but not in respect of capital goods.
\nRegards
\nNitika Aggarwal
\n9999804960
\nReply By Yash Jain:
\nThe Reply:
\nDear Sir\/Madam,
\nReproducing herewith the Rule 89 (Relevant Clauses Only – as such) and as under,
\n89(3) Where the application relates to refund of input tax credit, the electronic credit ledger shall be debited by the applicant b<\/p>\n
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\nHence were it is categorically stated that Input is only in respect of Input other than capital Goods?.
\nThen what will happen to input of capital Goods as the full CGST Act does not impose any restrictions.
\nComments from other members highly solicited.
\nReply By Pavan Mahulkar:
\nThe Reply:
\nDear Yash Jain Sir,
\nWe can't presume Inputs as Capital Asset
\nPlease refer definition of INPUT as per section 2 of CGST Act
\n(59) “input” means any goods other than capital goods used or intended to be used by a supplier in the course or furtherance of business;
\nReply By Nitika Aggarwal:
\nThe Reply:
\nI have the same view as inscripted by Mr. Pavan Mahulkar.
\nThe Government is going to give benefit only in respect of those input and input services which are used in the course or furtherance of Zero-rated supply not other than that.
\nNitika Aggarwal
\n9999804960\n<\/p>\n
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