Refund of Unutilized Input tax credit in case of inverted tax structure

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This discussion clarifies the process for claiming refunds of unutilised Input Tax Credit (ITC) when facing an inverted tax structure. Key points addressed include the general two-year time limit for filing refund applications and confirmation that ITC on both services and capital goods can be claimed.

VIJAY BHATT

VIJAY BHATT (Querist)
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04 March 2022 My question in regard of Refund of Un-Utilized Input tax credit in case of inverted tax structure are:
1) What is the time limit of filing refund application ?
2) Is Refund of ITC on Supply of Services can claim ?
3) Is Refund of ITC on Capital goods can claim ?

Please advice with respect of Rule.

Thanks in advance

VIJAY BHATT

VIJAY BHATT (Querist)
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23 March 2022 Awaiting for reponse

CA Puja Sharma

CA Puja Sharma (Expert)
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23 March 2022 Generally time limit for refund is within 2 years from the end of the FY to which refunds relate to.

Yes, you can take ITC of capital goods also.

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