Home Forum Goods and Services Tax - GST Month 2 2020 2020 (2) This
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CLAIMING REFUND OF UNUTILIZED ITC - Goods and Services Tax - GSTExtract Dear Experts, We have more amount of unutilized ITC in Electronic Credit Ledger accumulated over a period from inception of GST. It is almost 4 times of our average monthly ITC receipts and GST payable. Most of our ITC are at 18% and our out put GST is 12%. The Government is not allowing to include ITC taken on Capital Goods and Services and allowing only inputs ITC bills for refund under inverted duty structure. As per refund rules and formula, we are eligible only a megar amount and our balance in electronic credit ledger is about 8 times of refund elegible. What is the way or solution to get refund accumulated ITC due to Capital goods and Service. Please guide us
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