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Availing ITC U/s 36 OF CGST ACT 2017
IS BALANCE AVAILABLE IN ELECTRONIC CREDIT LEDGER CAN BE REFUNDED IF THE SUPPLIER CLOSED HIS BUSINESS.
Replies (6)
No
Refund not possible unless engaged in export or supplies subject to inverted duty structure
Refund not possible unless engaged in export or supplies subject to inverted duty structure
No balance of ECL cannot be refunded unless under IDC
Such ITC would lapse on closure of business.
Thanks for giving details
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.
Your welcome
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