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Refund of unutilised input tax credit, Goods and Services Tax - GST

Issue Id: - 112983
Dated: 31-10-2017
By:- Yatin Bhopi
Refund of unutilised input tax credit

  • Contents

Dear 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 utilise ITC paid on purchses since there is no other taxable supply.

Please let me know whether is there any provision of claiming refund claim of unutilised ITC.

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Posts / Replies

Showing Replies 1 to 7 of 7 Records

1 Dated: 31-10-2017
By:- MARIAPPAN GOVINDARAJAN

In my view, no refund is possible.


2 Dated: 31-10-2017
By:- Yatin Bhopi

is there any way to overcome this situation.


3 Dated: 31-10-2017
By:- Rajagopalan Ranganathan

Sir,

As per Section 16 (1) (b) of IGST Act, 2017 "supply of goods or services or both to a Special Economic Zone developer or a Special Economic Zone unit" is "zero rated supply."

According to Section 16 (3) of the same Act "a registered person making zero rated supply shall be eligible to claim refund under either of the following options, namely:––

(a) he may supply goods or services or both under bond or Letter of Undertaking, subject to such conditions, safeguards and procedure as may be prescribed, without payment of integrated tax and claim refund of unutilised input tax credit; or

(b) he may supply goods or services or both, subject to such conditions, safeguards and procedure as may be prescribed, on payment of integrated tax and claim refund of such tax paid on goods or services or both supplied,

in accordance with the provisions of section 54 of the Central Goods and Services Tax Act or the rules made thereunder.


4 Dated: 31-10-2017
By:- Yatin Bhopi

Thanks a lot Sir


5 Dated: 14-11-2017
By:- Ramaswamy S

Supplies 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.

Regards

S.Ramaswamy


6 Dated: 15-11-2017
By:- Yatin Bhopi

Dear Sir

Since CGST+SGST credit is accumulated, we can not able to utilise it to pay IGST.

In this situation as mentioned by Mr. Rajagopalan Ranganathan Sir only option available is to take refund of unutilised input tax credit.


7 Dated: 15-11-2017
By:- Ramaswamy S

CGST and SGST can be utilised for payment of IGST. The payment of IGST utilising the CGST and then SGST is allowed.

its payment of IGST for exports and hence refund of the IGST paid on clearances to SEZ is allowed.

It is always simpler to get the refund of outward IGST on exports when compared to refund of unutilised Input Credit.

IGST can be utilised for payment of IGST, CGST and SGST in that order/

Only Cross utilisation of CGST and SGST is not allowed.

Regards

S.Ramaswamy


1

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