Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

Gst reversed

pradip (business) (48 Points)

09 October 2018

WE ARE TARDING INDUSTRIAL PRODUCTS. WE HAVE BOTH TAXABLE AND ZERO RATED SUPPLY(SUPPLY TO SEZ). WE WANT TO KNOW ITC TO BE REVERSED FOR ZERO RATED SUPPLY OR NOT.

Reply
Follow
Share

1 Replies

CA Sunil Kumar (Chartered Accountant) (4514 Points)
Replied 09 October 2018

No reversal of ITC on zero rate supply to SEZ. The suppliers making Zero-rated supplies are entitled to claim refunds. The refunds are for the input tax paid on the goods and services which are used for such Zero-rated supplies (including non-taxable and exempt supplies).