Deposit of erroneous refund can claim back as ITC

CA Pradeep Sharma | Last updated: 16 July 2022

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If you've received an erroneous GST refund and repaid it, you can now claim the amount back as Input Tax Credit (ITC). The GST system has introduced a new functionality, FORM GST PMT-03A, allowing tax officers to re-credit the repaid amount to your electronic credit ledger. This applies to various scenarios, including IGST refunds wrongly claimed or refunds of unutilised ITC.

Where a registered person deposits the amount of erroneous refund sanctioned to him, {Rule 86(4B)} (a) under sub-section (3) of section 54 of the Act, or (b) under sub-rule (3) of rule 96, in contravention of sub-rule (10) of rule 96, along with interest and penalty, wherever applicable, t

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CA Pradeep Sharma

PRADEEP K SHARMA ASSOCIATESwas established in the year 2011. It is a chartered accountancy firm rendering comprehensive professional services which include audit, management consultancy, tax consultancy (SPECIALISED IN GST) , accounting services, manpower management, secretarial services etc. PRADEEP K SHARMA AS ... Read more

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