Claim for Refund on ITC on plant and machinery - pharmaceuticals Formulation - inverted Tax Structur

ITC / Input 1251 views 1 replies

My unit is new (operational in Feb - 24) and has ITC on account of plant and machinery in credit ledger. The nature of business is pharmaceuticals formulation it is under inverted tax structure i.e. ITC on input used is 18% and output is 12% (old GST ) / 5% (GST 2.0).

Can i claim for refund of the ITC on account of Plant and machinery in credit ledger? Please advice

Replies (1)

Inverted duty refund in not allowed on services and capital goods hence refund of itc on plant and machinery is not allowed


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