TMI BlogREFUND OF ITC -X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Experts, We are going to submit application for refund of ITC accumulated due to inverted duty structure. We are not exporters and we are not having zero/nil rated outward supply. In comput ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation of of maximum refund to be claimed (statement-1), the net input tax credit, we should exclude ITC on input service and ITC on capital goods (or) we can exclude only ITC on input services alone. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... We understand from 26.09.2019, refund rules have been amended. Net input tax credit (4) (₹) Edit the Net ITC to exclude, the ITC availed on input services and the ITC of refund cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aimed under Rule 89 (4A) and/ or (4B) In the application, it shows like this above. Whether, we can include ITC taken on Capital Goods or Not ??? - Reply By KASTURI SETHI - The Reply = ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... See Rule 89(5) of CGST Rules, 2017 inserted vide Notification No.26/18-CT dated 13.6.18 effective retrospectively i.e. from 1.7.17. Capital Goods are to be excluded. - REFUND OF ITC - - Qu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ery Started By: - SAFETAB LIFESCIENCE Dated:- 23-10-2019 Goods and Services Tax - GST - Got 1 Reply - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Manage ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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