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Availing ITC U/s 36 OF CGST ACT 2017

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210 Points Posted on 25 June 2021
IS BALANCE AVAILABLE IN ELECTRONIC CREDIT LEDGER CAN BE REFUNDED IF THE SUPPLIER CLOSED HIS BUSINESS.
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On 25 June 2021 at 10:44 Report
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GST Consultant
15986 Points Posted on 25 June 2021
No
Refund not possible unless engaged in export or supplies subject to inverted duty structure
55 Reply
On 25 June 2021 at 11:30
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Chartered Accountant
24588 Points Posted on 25 June 2021
No balance of ECL cannot be refunded unless under IDC
129 Reply
On 25 June 2021 at 11:59
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CMA
13117 Points Posted on 25 June 2021

Such ITC would lapse on closure of business.

92 Reply
On 25 June 2021 at 13:15
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210 Points Posted on 26 June 2021
Thanks for giving details
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On 26 June 2021 at 08:25
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M Com FCS LLB M-AIMA
14046 Points Posted on 26 June 2021

inputs held in stock as on the date of closure of business if any shall be reversed as per section 29(5) either through cash ledger or through credit ledger.

14 Reply
On 26 June 2021 at 13:48
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Chartered Accountant
24588 Points Posted on 24 July 2021
Your welcome
129 Reply
On 24 July 2021 at 09:51


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