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refund of unutilized ITC under GST after export under LUT

Goods and Services Tax - Started By: - BalKrishan Rakheja - Dated:- 9-4-2018 Last Replied Date:- 4-6-2018 - After exporting the goods under LUT and claimed refund for untilized ITC. As per formula refund amount comes to Rs. 50 Lacs but credit ledger balance at the end of the tax period (month in which the export took place) is ₹ 10 lacs only. Which amount I am eligible for refund of ITC, however as on today the credit ledger balance is ₹ 80 Lacs - Reply By YAGAY AND SUN - The Reply = .....

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sh Jani - The Reply = Sir, in this regards, please refer Circular No. 37/11/2018-GST dated 15/03/2018. The relevant paras No. 11.1 and 11.2 is reproduced below 11.1 In many scenarios, exports may not have been made in that period in which the inputs or input services were received and input tax credit has been availed. Similarly, there may be cases where exports may have been made in a period but no input tax credit has been availed Page 6 of 8 in the said period. The above referred rule, taking .....

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1.2. I request our experts to please clarify the issue that how to club and how to file the refund for quarters, as online it is for the month only. - Reply By BalKrishan Rakheja - The Reply = Thanks Harshal ji. I also agree with your views. - Reply By BalKrishan Rakheja - The Reply = Thanks Alkesh Jani ji for your valuable information. But my querry is still unanswered regarding for which amount I am eligible for refund. Please give your valuable advise. - Reply By Alkesh Jani - The Reply = Sir .....

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se of accumulation of refund claim due out of of accumulated/unutilized credit at the end of respective month/quarter and also restriction on crossing over next financial year. As per Point No.11.2 the position is as under:- (1). If you file monthly return, the amount of refund to be claimed should not exceed the balance of credit lying at the end of relevant month i.e. in which refund being claimed against the goods.exported in the respective month. (2). If you file quarterly return, the amount .....

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