GST REFUND FOR ZERO RATED SUPPLY WITHOUT PAYMENT OF TAX, Goods and Services Tax - GST

[Chandru Ramachandran]

Per CGST Act  54, a registered unit can claim refund of unutilized input tax credit at the end of the relevant tax period against their zero rated supplies made without payment of tax through GST portal under RFD-01A. While applying for refund, the system indicates the value of ITC available for the relevant period. Need to know whether we have to deduct the amount of ITC utilized to set off the liaibility towards outward supply of goods/services during the relevant period. Those who have knowledge on this may please revert with their inputs.

Posts / Replies

[CASusheel Gupta]

Rule 89 provides for refund proportionately.

This formula automatically takes care of ITC pertaining to domestic supply.

CA Susheel Gupta

9811004443