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)

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)

23 March 2022 Awaiting for reponse

CA Puja Sharma

CA Puja Sharma (Expert)

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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