Exempt Goods Exported then i am eligible for credit

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This query is : Resolved

Sagar Kalambe (Querist)

09 November 2017 We are Export exempted goods i.e.Agriculture Product which is charged in india either NIL rated or EXEMPT product. while sale in india we charge nil rate. so we not able to claim INPUT TAX CREDIT. But while export this NIL rated good consider as ZERO RATED but my actual product is nil rated. so I am able to claim input tax credit u/s 54(3)????

Amol S Joglekar

Amol S Joglekar (Expert)

09 November 2017 since your sale is zero rated, there arises no question of claiming ITC

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Sagar Kalambe

Sagar Kalambe (Querist)

09 November 2017 As per Sec 54(3)Subject to the provisions of sub-section (10), a registered person may claim refund of any unutilised input tax credit at the end of any tax period: Provided that no refund of unutilised input tax credit shall be allowed in cases other than–– (i) zero rated supplies made without payment of tax; (ii) where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on output supplies (other than nil rated or fully exempt. But when I am export goods ita consider as zero rated... Then also I am not able to get ITC

Amol S Joglekar

Amol S Joglekar (Expert)

09 November 2017 No....because your export is almost exempt from GST

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