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Refund of Excess Credit in Portal

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(Querist)
26 November 2017 Our credit ledger balance accumulated Rs.40 lakh. major raw material are coming under 28% but finished goods are selling 18%. How can Refund ? any options pls suggest me
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RAJA P M

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RAJA P M (Expert)
26 November 2017 I think yes. You can claim refund for unused ITC...
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Rajannaidu

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Rajannaidu (Expert)
26 November 2017 yes you can claim refund under provision of inverted duty structure 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 supplies), except supplies of goods or services or both as may be notified by the Government on the recommendations of the Council.
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