Menu
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
Recent Threads
- Can I set off equity losses(both short term loss a
- Input tax credit on rent to rent
- Family Pension Army
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
- Free GST Reconciliation Tool in Google Sheets R
- NRI return after due date refund case
- TDS u/s 194J - training honorarium
Related Threads
CAclubindia
