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
\nWe 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.
\nPlease let me know whether is there any provision of claiming refund claim of unutilised ITC.
\nReply By MARIAPPAN GOVINDARAJAN:
\nThe Reply:
\nIn my view, no refund is possible.
\nReply By Yatin Bhopi:
\nThe Reply:
\nis there any way to overcome this situation.
\nReply By Rajagopalan Ranganathan:
\nThe Reply:
\nSir,
\nAs per Section 16 (1) (b) of<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n efund of such tax paid on goods or services or both supplied, = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" 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 – GSTGot 7 RepliesGSTDear 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 … Continue reading “Refund of unutilised input tax credit”<\/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-8476","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/8476","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=8476"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/8476\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nin accordance with the provisions of section 54 of the Central Goods and Services Tax Act or the rules made thereunder.
\nReply By Yatin Bhopi:
\nThe Reply:
\nThanks a lot Sir
\nReply By Ramaswamy S:
\nThe Reply:
\nSupplies 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.
\nRegards
\nS.Ramaswamy
\nReply By Yatin Bhopi:
\nThe Reply:
\nDear Sir
\nSince CGST+SGST credit is accumulated, we can not able to utilise it to pay IGST.
\nIn this situation as mentioned by Mr. Rajagopalan Ranganathan Sir only option ava<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n