GST REFUND ON EXPORT EXPENSES OF EXEMPTED GOODS
This query is : Resolved
30 November 2024
Hello Sir/Madam,
One of my client is rice traders who engaging in domestic sale of exempted & taxable goods and exporting rice (exempted goods) also. Whether he can apply for ITC GST Refund through RFD-01 for the expenses which incurred for make the export complete. Please suggest..
One of my client is rice traders who engaging in domestic sale of exempted & taxable goods and exporting rice (exempted goods) also. Whether he can apply for ITC GST Refund through RFD-01 for the expenses which incurred for make the export complete. Please suggest..
01 December 2024
As per section 16(2) of the IGST Act, credit of input tax may be availed for making zero rated supplies, notwithstanding that such supply is an exempt supply.
And As per Circular 45/19/2018 :
Registered person making zero rated supply for Exempted goods shall be eligible to claim refund of Unutilized Input when he either makes supply of goods or services or both under bond or LUT or makes such supply on payment of integrated tax.
You can claim refund by filing RFD 01 online on portal.
And As per Circular 45/19/2018 :
Registered person making zero rated supply for Exempted goods shall be eligible to claim refund of Unutilized Input when he either makes supply of goods or services or both under bond or LUT or makes such supply on payment of integrated tax.
You can claim refund by filing RFD 01 online on portal.
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02 December 2024
Thank you Sir for your valuable opinion,
Should i file RFD 01 of all the invoice in once a year or monthly/quarterly basis ?
Should i file RFD 01 of all the invoice in once a year or monthly/quarterly basis ?
02 December 2024
You should file Form RFD-01 monthly for refund claims related to zero-rated supplies and inverted duty structures. However, if your turnover is less than Rs. 1.5 crore and you've opted to file quarterly returns, you can file RFD-01 quarterly instead of monthly.
If the amount is not significant or you don't mind waiting until the end of the year, annual filings can be more convenient, requiring less administrative effort. Ensure that all your GST returns are up-to-date (GSTR-1, GSTR-3B) before filing RFD-01, as any non-compliance could delay or even reject the refund claim.
If the amount is not significant or you don't mind waiting until the end of the year, annual filings can be more convenient, requiring less administrative effort. Ensure that all your GST returns are up-to-date (GSTR-1, GSTR-3B) before filing RFD-01, as any non-compliance could delay or even reject the refund claim.
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02 December 2024
Thank You Sir for your valuable guidance.
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02 December 2024
You are welcome.
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