Sir
My Client has two business entity and had separate GST Number. On 31st March 2018 one Business entity has Transfer his stock to another business entity by paying GST on Closing Stock.
The recipient has claimed ITC on Stock and he also have monthly Trading of Purchases and Slaes.
Now I want to claim Refund for Balance of Refund
What Section & application I need to file Refund.
please Help me
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GST Refund on Transfer of Business
Replies (2)
No you cannot claim refund .
As per section 54 CGST Act : Refund can be claim on following Condition:
• Export of goods or services.
• Supplies to SEZs units and developers
• Deemed exports
• Refund of taxes on purchase made by UN or embassies etc.
• Refund arising on account of judgment, decree, order, or direction of the Appellate Authority, Appellate Tribunal, or any court.
• Refund of accumulated Input Tax Credit on account of inverted duty structure
As per section 54 CGST Act : Refund can be claim on following Condition:
• Export of goods or services.
• Supplies to SEZs units and developers
• Deemed exports
• Refund of taxes on purchase made by UN or embassies etc.
• Refund arising on account of judgment, decree, order, or direction of the Appellate Authority, Appellate Tribunal, or any court.
• Refund of accumulated Input Tax Credit on account of inverted duty structure
You cannot claim refund on excess balance in ITC due to normal purchased and sale.
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