GST REFUND

Hello Sir/s,

I need your valuable advice..

My friend has been filing NIL Return since Converting FROM VAT to GST..
He has Bulk ITC, How can it be claimed or any other way around to get it adjusted..
Replies (5)
Quick Summary
This discussion addresses how a friend can claim or adjust significant Input Tax Credit (ITC) accumulated after switching from VAT to GST, particularly when filing NIL returns. While direct refunds of ITC are generally limited to zero-rated supplies or reverse tax rates, advice suggests raising sales invoices now to offset the existing ITC. This approach could help in adjusting the accumulated credit.

You will get refund of such excess itc
But how sir..
can you please explain
Itc cannot be refunded except in case of zero rated supply and reverse tax rate
Thank you sir..
Can he raise Sales invoice now & set off this year...
Yes he can raise invoice now and can adjust itc

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