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REFUND OF ITC, Goods and Services Tax - GST

Issue Id: - 113050
Dated: 16-11-2017
By:- unni kv

REFUND OF ITC


  • Contents

Sir,

We are the exporter without payment of duty (against LUT). We are availing draw back with lower rate against each export shipment. Now my question is since our local sales volume is very low, the output tax liability is limited and as a result ITC is accumulated in the Electronic Credit Ledger. We were filed GSTR 3B till October 2017 alongwith making payment of ITC on RCM also.

My question is whether we can claim for refund of credit balances lying in Electronic Credit Ledger in view of claiming drawback with lower rate (i.e 1 to 2%) through RFD-1A ?

regards

Posts / Replies

Showing Replies 1 to 6 of 6 Records

Page: 1


1 Dated: 16-11-2017
By:- KASTURI SETHI

If your ITC is accumulated because of export and you are unable to use, you can claim refund.


2 Dated: 16-11-2017
By:- KASTURI SETHI

Drawback claim is not hurdle in this refund claim.


3 Dated: 16-11-2017
By:- SHIVKUMAR SHARMA

Please refer Section 54(3) of CGST 2017.


4 Dated: 16-11-2017
By:- CS SANJAY MALHOTRA

5 Dated: 16-11-2017
By:- Ramaswamy S

When the exports is more compared to domestic sales, it is advisable to opt for export on payment of IGST and claim refund of IGST which is faster and simpler when compared to the refund of the input ITC.

Regards

S.Ramaswamy


6 Dated: 17-11-2017
By:- Ganeshan Kalyani

The circular gives detailed information on claiming refund on zero rated sales. I agree with the opinion given by Sri Ramaswamy Sir that it is better to pay IGST on export and claim refund.


Page: 1

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