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Refund of unutilised ITC, Goods and Services Tax - GST |
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Refund of unutilised ITC |
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Please clarify with reference of relevant section and rule that can we claim refund of unutilised ITC on capital goods in case of 100% zero rated supply. Posts / Replies Showing Replies 1 to 7 of 7 Records Page: 1
This issue has already been discussed in this forum. Pl. go through replies posted by experts in November and December,2017.
Sethi Sir, not able to find about Capital Goods
Duty paid (GST) character/status is the same whether it is input or capital goods.
In GST regime the term ,"Input Tax" also includes capital goods. This prespective is worth to be analysed. Present definition of input/capital goods is different from the earlier one existed during pre -GST era.
No such provision of refund of accumulated credit on capital goods. Refund of input and input service is available. Refer CGST Rule 89 preferable Net ITC availed formulae.
Sh.CS Sanjay Malhotra Ji,. Sir, thanks for your stamp of clarification and hence enrichment of my knowledge.
I endorse Sanjay sir views Page: 1 Old Query - New Comments are closed. |
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