The company availed itc on gst paid to vendor but then it was ascertained that there is no output liability.
in such case can the itc availed be reversed or can we apply for refund
First we have to analyse the utilisation of ITC availed goods.
If u used the ITC availed goods to further supply as exports or to sez, then only u have eligible to get refund, or if u r in inadvertent tax structure or otherwise u r not eligible to get refund.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
