TMI BlogExcess Tax Paid In A Financial YearX X X X Extracts X X X X X X X X Extracts X X X X ..... While filing GSTR-3B for F.Y 2018-19, we have paid excess GST by utilising ITC only. Now, 1. how can we adjust the same? or 2. If we are not able to adjust the same in subsequent return due ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to Nil turnover then how to adjust? 3. If we cannot adjust then how to claim refund? - Reply By KASTURI SETHI - The Reply = You have hobson's choice. You can apply refund under Sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 54 (8)(e) of CGST Act but refund will be allowed by way of re-credit into your Electronic Credit Ledger Account. Mention the reason against Serial No.7 (j) (k) of Form GST RFD-01 . Cash refun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d is not admissible on the ground that as per Section 16(1) of CGST Act ITC is to be utilized in the course of business or furtherance of business. Other routes on the basis of case laws are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prone to litigation. There are only two or three case laws wherein cash refund was allowed because of closure of the factory. In the letter and spirit of Section 16 , cash refund is not admissible be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cause utilization is the statutory requirement. - Excess Tax Paid In A Financial Year - Query Started By: - Pradeep Singhi Dated:- 28-9-2019 Goods and Services Tax - GST - Got 1 Reply - GST - D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iscussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
