refund of igst paid on machinery imported
Query (Issue) Started By: – satbir singhwahi Dated:- 24-12-2017 Last Reply Date:- 25-12-2017 Goods and Services Tax – GST
Got 6 Replies
GST
Sir
\nDyeing unit imported machinery and paid IGST on imports. Inputs dyes and chemicals are 18% gst, Whereas Output -dyeing job work is 5% gst. Whether refund under Inverted duty structure allowed for IGST paid on machinery imported.
\nReply By Rajagopalan Ranganathan:
\nThe Reply:
\nSir,
\nAccording to Section 54 (3) (ii) of CGST Act, 2017 a registered person may claim refund of any unutilised input tax credit at the end of any tax period where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on output sup<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n \nSir, = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" refund of igst paid on machinery imported Query (Issue) Started By: – satbir singhwahi Dated:- 24-12-2017 Last Reply Date:- 25-12-2017 Goods and Services Tax – GSTGot 6 RepliesGSTSir Dyeing unit imported machinery and paid IGST on imports. Inputs dyes and chemicals are 18% gst, Whereas Output -dyeing job work is 5% gst. Whether refund under … Continue reading “refund of igst paid on machinery imported”<\/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-9595","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/9595","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=9595"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/9595\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nIn respect of Goods enumerated in the table appended to Notification No. 5\/2017-Central Tax (Rate) dated 28.6.2017 no refund of unutilised input tax credit shall be allowed, where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on the output supplies of such goods (other than nil rated or fully exempt supplies).
\nSimilarly as per Notification No. 15\/2017-Central Tax (Rate) dated 28.6.2017 in respect of supply of service mentioned at Sl. No. 5 (b) of Schedule II of CGST Act, 2017, namely construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire consideration has been rec<\/p>\n
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