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Prabhat Pandey   25 June 2021

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.


 6 Replies

CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     25 June 2021

No
Refund not possible unless engaged in export or supplies subject to inverted duty structure
1 Like
Sourav

Sourav (Student)     25 June 2021

No balance of ECL cannot be refunded unless under IDC
1 Like
CMA Poornima Madhava

CMA Poornima Madhava (CMA)     25 June 2021

Such ITC would lapse on closure of business.

1 Like
Prabhat Pandey

Prabhat Pandey   26 June 2021

Thanks for giving details
CS Abhishek Goyal

CS Abhishek Goyal (M Com FCS LLB M-AIMA )     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.

Sourav

Sourav (Student)     24 July 2021

Your welcome

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