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Could i take itc refund

ITC / Input 170 views 4 replies
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Asst.Manager
56 Points Posted on 20 February 2018

Actually, we have ITC -CGST and SGST in large amount, can we get refund the same, if yes what is the procedure

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On 20 February 2018 at 14:58 Report
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Asst Prof of Commerce
54 Points Posted on 20 February 2018
No refund is allowed as per my knowledge, unless one completely winds up that particular business

please correct me if I am wrong
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On 20 February 2018 at 15:32
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banglore
1496 Points Posted on 20 February 2018
Refund of excess input credit under GST will be allowed only in following cases

1. Export of goods or services
2. Inverted tax scruture (Inputs @ higher rate and ouput @ lower rate)
6 Reply
On 20 February 2018 at 23:39
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consultant
152 Points Posted on 01 March 2018
but what if output product is nil rated or Not taxable?
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On 01 March 2018 at 11:56
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banglore
1496 Points Posted on 02 March 2018
Then you are not eligible for input at all, hence no question of refund
6 Reply
On 02 March 2018 at 21:45


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