Home Forum Goods and Services Tax - GST Month 5 2021 2021 (5) This
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Can refund be claimed on closing balance of ITC at time of cancellation of registration - Goods and Services Tax - GSTExtract Can the taxpayer claim refund of ITC in the credit ledger balance where the input tax credit is more than than the amount required to be reversed? If yes, how to claim? Example trader purchased goods for ₹ 10,00,000 paying ITC @18% and he couldn't sell the same with value addition but sold for only ₹ 9,00,000 and discharged tax liability n filed returns. He also had some service inputs of ₹ 10,000. Now the dealer wants to surrender registration, in this case can he get the refund of ₹ 18,000 ( on goods sold for loss) plus ITC on Services of ₹ 10,000. If yes, how can he claim ?
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