Export refund without payment of tax (rfd-01)

Import / Export 522 views 2 replies

HITESH JAIN

Job

34 Points Joined June 2014

dear sir

i have manufactured goods in the month of December 2017 and take the ITC of IGST, CGST, SGST and filed my 3B

the aforesaid goods sold without payment of tax through export in the month of January 2018 and also filed my return GSTR-1 with proper data like, invoice number, invoice amount, shipping bill number, shipping bill date, etc

now i want to file my refund application in form RFD-01, but in the form RFD-01 following formula available

current month input / current month total turnover x current month zero rated turnover = eligible ITC for refund

so in this situation my result in RFD-01 reflected as a "0" as i have no any ITC available in the month of Jan-2018

so please guide me how to file RFD-01 and get refund?

thanks

Replies (2)

CA Shivam Arora

Chartered Accountant

2414 Points Joined November 2016

You have chosen the wrong option I guess. If you can provide the screeshots then it will be helpful

Pankaj Rawat

GST Practitioner

55062 Points Joined June 2017

Formula to calculate the Refund amount of ITC:

Net ITC x [( Turnover of zero-rated supply of Goods + Turnover of zero-rated supply of Services)/ Adjusted Total Turnover]

(for the relevant period)

Where,

Net ITC : Input tax credit availed on inputs and inputs services during relevant period

Turnover of zero-rated supply of Goods : Value of supply of Goods during relevant period made without tax payment by executing bond/ letter of undertaking for the relevant period

Turnover of zero-rated supply of Services : Value of supply of Services during relevant period made without tax payment by executing bond/ letter of undertaking

In case of services that are zero-rated supplies, turnover includes the advance received in prior period for which services are now provided and reduced by advance received for which services are yet to be provided for the relevant period

Adjusted total turnover :Total Turnover in a State/Union territory excluding value exempt supplies for the relevant period

Relevant period: period for which the claim of refund is made/ filed. It differs for each claim of refund.