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Can i claim the refund of ITC in Capital Goods.
I have purchased Capital goods and the ITC amount ₹1.5 crore, but as ITC is getting blocked in my Electronic credit ledger, Which creates a Problem in working caiptal for a business. So can i Claim refund for my ITC available in my gst portal.
Replies (3)
U can claIim refund only if ur doing Zero rated supply and any inverted duty structure.
Hi Rahul,
Refund of input credit is only allowed in case of expoet of goods or services or trading in goods with inverted GST rates. Also note ITC on capital goods is not allowed in case of exports without payment of tax. Hence it can be only utilised against output. However you can make exports with payment of tax, adjust liability against input and go refund of tax paid on exports
Refund of input credit is only allowed in case of expoet of goods or services or trading in goods with inverted GST rates. Also note ITC on capital goods is not allowed in case of exports without payment of tax. Hence it can be only utilised against output. However you can make exports with payment of tax, adjust liability against input and go refund of tax paid on exports
Sir,
We want to take Refund of ITC on capital goods, its bounding to us for raised invoice without LUT for particular quarter or months.
If we can raise any one Invoice w/out LUT and take credit in any month?
If any Notification available, please share the same.
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