9911796707
TMI BlogEXPORT REFUND UNDER GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... EXPORT REFUND UNDER GST X X X X Extracts X X X X X X X X Extracts X X X X ..... of my client has ITC balance of ₹ 27,00,000/- . Export sales of ₹ 1,06,000/- and total adjusted turnover for the respective period is ₹ 33,00,000/-. For the above, i have calculate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d refund of ₹ 86000/- as per the below formula ITC * Export Turnover / Total turnover Now, my doubt is, can i claim ITC of ₹ 86,000 on the Export sales of ₹ 1,06,000/- or should I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reduce ITC pertaining to closing stock from this formula. Reply By Rajendra Prasad: The Reply: Dear Mr Thyagarajan, 1. Please check your question and figures . It seems that there is an error eith ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er in your question or figures. 2. The refund has no link to the Closing Stock on ITC. 3. The refund amount is to be debited to the Electronic Credit Ledger. (I think it is automatic upon filing ref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... und application) 4. I am giving the link to ICAI Publication on GST Refunds . https://idtc-icai.s3-ap-southeast-1.amazonaws.com/download/knowledgeShare18-19/E-publication-Refund-under-GST-31.12.18.p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... df
5. The following is the link to GST refund process.
http://cbic.gov.in/resources//htdocs-cbec/gst/Refund-Compendium-020719.pdf;jsessionid=69D9A4399665E705B92DF1A49870C5AE X X X X Extracts X X X X X X X X Extracts X X X X ..... nowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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