if any equipment is purchased by a agri producing company like truck or tractor & gst is paid at say 28%.
Products sold by the company are ( VEGETABLES & FRUITS ) that are sold at 0% gst or 5 % gst if processed.
Is the company elegible for refund of tax paid?
If yes in/at what time.
Refund of tax is possible only in these cases :
(A) Excess payment of tax due to mistake or inadvertence.
(B) Export (including deemed export) of goods / services under claim of rebate or Refund of accumulated input credit of duty / tax when goods / services are exported.
(C) Finalization of provisional assessment.
(D) Refund of Pre – deposit for filing appeal including refund arising in pursuance of an appellate authority’s order (when the appeal is decided in favor of the appellant).
(E) Payment of duty / tax during investigation but no/ less liability arises at the time of finalization of investigation / adjudication.
(F) Refund of tax payment on purchases made by Embassies or UN bodies.
(G) Credit accumulation due to output being tax exempt or nil-rated.
(H) Credit accumulation due to inverted duty structure i.e. due to tax rate differential between output and inputs.
(I) Year-end or volume based incentives provided by the supplier through credit notes.
(J) Tax Refund for International Tourists.
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