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Higher rate of duty drawback

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jhansi

CA Practice

47 Points Posted on 12 September 2022

If itc availed in gst for july 17 to sep 17 , whether higher rate of duty drawback claimed in july 17 to sep 17 is correct. please clarify

Replies (2)

Quick Summary

This discussion clarifies whether claiming a higher rate of duty drawback is permissible when Input Tax Credit (ITC) has been availed under GST for the period of July 2017 to September 2017. The general rule, as per Section 54(3) of the CGST Act, suggests that ITC cannot be claimed if a higher rate of duty drawback is sought. However, the user is seeking clarification regarding Notification 73/2017 CT, which might offer specific conditions for claiming either no ITC or a refund of IGST for exports made under bond.

prasad Nilugal

GST Practitioner & Accounts

8998 Points Posted on 12 September 2022

No, You Can not claim input tax credit in Case of higher rate of duty draw back as per section 54(3);of the CGST act , however check out case laws , Honorable High court decisions, circular by CBIC etc , take others Opinion as well.

jhansi

CA Practice

47 Points Posted on 12 September 2022

Thank you sir for reply.. but we did not apply for any refund for exports( all exports are under bond ) and as per notification 73/2017 CT . in that notification isnt we have to comply a(i) OR a(ii) and b

so to claim either no itc claim OR refund of igst claimed.
whether my understanding correct...