Igst on import can we offset with available igst reverse ?

No you cannot do so, from credit ledger u can offset ur liabilities but only by filing return

THANK YOU 

ONE OF MY CLIENT MANUFACTURER OF COTTON FABRICS AND THEY HAVE ACCUMULATED GST ITC RESERVE OF

RS .70.00 LAKHS (INCL OF SGST , CGST AND IGST) .  CAN WE FILE REFUND CLAIM FROM GST 

 

THANK YOU PANKAJ

ONE OF MY CLIENT MANUFACTURER OF COTTON FABRICS AND THEY HAVE ACCUMULATED GST ITC RESERVE OF

RS .70.00 LAKHS (INCL OF SGST , CGST AND IGST) .  CAN WE FILE REFUND CLAIM FROM GST 

 

accumulated reserve in their books of accounts?

As per "IInverted Tax Structure" where the inward supply rate is greater then outward supply rate , is liable for refund , BUT with few restrictions

Vide Central Tax (Rate) Notification 5/2017 dt. 28.06.2017 the Central Government has notified that no refund of unutilised input tax credit shall be allowed in case of output supply of the following goods:

Sl.NoTariff item, heading, sub-heading or ChapterDescripttion of goods1 5007 Woven fabrics of silk or of silk waste2 5111 to 5113 Woven fabrics of wool or of animal hair3 5208 to 5212 Woven fabrics of cotton4 5309 to 5311 Woven fabrics of other vegetable textile fibres, paper yarn5 5407, 5408 Woven fabrics of manmade textile materials6 5512 to 5516 Woven fabrics of manmade staple fibres7 60 Knitted or crocheted fabrics

If u not fall under above as per notification then u can avail ITC .

Noted on the below and thanks for your reply 

 

HOW TO FILE GST REFUND APPLICATION FOR SUPPLY TO SEZ UNITS  WHERE TOTAL SUPPLIES INVOLVE DOMESTIC AND SEZ SUPPLY 

 

WHAT ARE ALL THE FORMS REQUIRED TO FILE WITH GST OFFICE