Refund claim by a small trader
This query is : Resolved
21 February 2023
My owner is a registered dealer GST,total sales during FY 2021-22 was 56,65,000 of only 18% GST and Purchases from outside state only and no within state purchases.So only IGST 18% paid on purchases of Rs.72,45,500 of 13,04,190(Input Tax) and output tax was 5,09,850(SGST) and 5,09,850(CGST).He says we can get refund of 2,84,490(IGST) on unsold stock.Is it correct can he claim refund or not.Sales were only within the state and is only a straight forward sales to retail customers of registered and unregistered.Please advice.
21 February 2023
No refund can be obtained on unsold stock. ITC can be adjusted when the stock is sold.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
