GST Refund Due Date?
magesh p (tax practiccner) (10 Points)
29 September 2020
Sir, what is the due date to claim GST Refund of Inverted Duty Structure for F.Y.2018-19.
2 Replies
sabyasachi mukherjee
(27825 Points)
Replied 29 September 2020
A registered person may claim a refund of unutiliźed
ITC on account of inverted duty structure at the end of any tax period where the credit has accumulated on account of rate of tax on inputs being higher than output supplies.
Exceptions
1.output supplies are nil rated or fully exempt supplies except supplies of goods or services .
In this case goods exported out of india are subject to export duty.
if supplier claims refund of output tax
In this case it can be filed within 2 years from the date of end of financial year.
ITC on account of inverted duty structure at the end of any tax period where the credit has accumulated on account of rate of tax on inputs being higher than output supplies.
Exceptions
1.output supplies are nil rated or fully exempt supplies except supplies of goods or services .
In this case goods exported out of india are subject to export duty.
if supplier claims refund of output tax
In this case it can be filed within 2 years from the date of end of financial year.
magesh p
(tax practiccner)
(10 Points)
Replied 29 September 2020
Thanks for your valuable replay sir
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