Export - refunds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2018 While exporting goods without LUT, we have paid entire IGST and have not utilised the Input Tax Credit for the same.
Can we claim refund for such unutilised ITC and please can you explain the procedure?

The formula for Refund of Unutilised ITC specifies refund only for goods exported with LUT with payment of IGST.

Thanks.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 June 2018 See the link.
https://www.charteredclub.com/gst-refund/

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2018 Thank you for the link of the article.
However, my issue still remains unresolved.
My unutilised ITC is on account of IGST paid without LUT (client has not adjusted ITC) while paying and the formula for refund of unutlised ITC specifically mentions export with LUT without payment of IGST.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 June 2018 This formula cover your case also.

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2018 I am unable to understand where it fits in. Please guide Sir.

The Formula says:
Maximum Refund amount = (Turnover of inverted rate of supply of goods) X (Net ITC / Adjusted Total Turnover) - Tax payable on such inverted rated supply of goods

As can be seen above this formula is for goods on which there is inverted rate of supply

and other formula in article relates to GST refund in case of exports without payment of IGST.

Thank you for your patience.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 June 2018 You have applied wrong formula. No formula need to be applicable in your case in case of identifiable ITC.

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2018 Thank you for the reply sir.

Can you assist with the procedure for filing refund for such ITC

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 June 2018 Yes,......,........................

Querist : Anonymous

Querist : Anonymous (Querist)

29 June 2018 Sir, awaiting your guidance.