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REFUND OF GST AGAINST INVERTED DUTY STRUCTURE

Goods and Services Tax - Started By: - SAFETAB LIFESCIENCE - Dated:- 8-11-2018 Last Replied Date:- 12-11-2018 - Dear Experts, We have obtained refund of accumulated GST against inverted duty structure in March-2018 for the period of earlier months. The refund included ITC credited against goods (inputs) and services. Now we have been instructed to repay the refund received against input services against Notification No. 26/2018 dt. 13.06.2018 retrospective effect from 01.07.2017. Now, my query i .....

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t. Account under proper Accounting Head. There are specific Accounting Heads from where the Central Govt. withdraws money to pay to any person. Specific Accounting Head is mentioned in Refund Sanctioning Order (Order-in-Original). Re-credit may be allowed on the basis of the proof of such deposit. - Reply By Nandan Khambete - The Reply = Have you received SCN from the Department for recovery u/s 73 or 74? Refund was granted to you on basis of Law at that time. Later retrospective change cannot a .....

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lable. With due respect to you and expert comment above, there is no question of re credit above. There is no Refund claim pending and ITC portion available with officer to re credit the same as, re credit is only allowed on basis of order RFD 01B and nothing else. I have assumed you have already received RFD 06. - Reply By KASTURI SETHI - The Reply = Electronic Cash Ledger is equal to erstwhile PLA (Personal Ledger Account). In this account an assessee deposits tax amount through e-challan and .....

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Reply = As per my view, it is not advisable to make any payment based on verbal communication from Department officials till SCN is received.Even though SCN is received later, be rest assured that you won t have to pay neither Interest nor penalty for erroneous refund received which will be contended by Department because it is change of law from retrospective effect. - Reply By SAFETAB LIFESCIENCE - The Reply = Respected Sir, We recived a letter from Department to repay the amount. - Reply By .....

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y of re-credit of this very amount is required in Electronic Credit Ledger and, thereafter, you can use it for offsetting liability in GSTR 3B in the same month. Re-credit of the same is your substantive right.The availment of credit of input service is not under challenge. I am sure you understand the formula for sanction of refund very well. - Reply By SAFETAB LIFESCIENCE - The Reply = Dear Mr. Kasthuri Seithi,Once I paid cash and if it comes in Cash Ledger, then why I need to take in Credit L .....

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