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Duty Drawback & Input Credit - under GST

Goods and Services Tax - Started By: - unni kv - Dated:- 21-9-2017 Last Replied Date:- 22-9-2017 - Dear SirWe are a Man Made Fabrics exporter (95% export) located at Kannur District, Kerala.We are exporting against Letter of Undertaking without payin .....

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materials purchased ? Whether Input Credit can avail for Integrated Tax paid for Import? Whether input credit can avail on SGST/CGST paid on Reversal Charge Mechanism? We have already filed GSTR3B for July & August 2017 after making payment towar .....

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ply By SHIVKUMAR SHARMA - The Reply = Reply as under :-Subject to your output supply is taxable. Whether we are eligible for avail Input Credit for materials purchased ? -YES Whether Input Credit can avail for Integrated Tax paid for Import? -YES Whe .....

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ect or else how we can reverse these ITC. We have not any set off against this ITC receivable.-YES, IT IS CORRECT PROCEDURE - Reply By unni kv - The Reply = Sir,Thanks, since we are availaing duty draw back in lower rate (2.50%), my question is wheth .....

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th avails of drawback in respect of central tax or claims refund of the integrated tax paid on such supplies. As per proviso 3 of Section 54 (3) of Maharashtra Goods and Services Tax Act, 2017 no refund of input tax credit shall be allowed, if the su .....

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n 54 (3) of CGST Act, 2017 then you are eligible to claim refund of credit of input tax paid on inputs and input services utilised for supply of export goods. Draw back is available only in respect of central tax and integrated tax. One more point wh .....

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eply By unni kv - The Reply = Sir,Our output supply is taxable as per GST but exporting with Nil Tax against Letter of Undertakingand availing Duty Drawback (at lower rate i.e 2.50%) . Still whether we can avail Input credit onpurchase and tax paid o .....

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Reply By SHIVKUMAR SHARMA - The Reply = Your output supply is taxable as per GST Rule & you are paying GST on output supply in domestic market but exporting with Nil rated tax against Letter of Undertaking & availing duty draw back . Still yo .....

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