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ITC refud under GST

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yamuna rani

1 Points Posted on 05 March 2023

whether a person doing tours and travels business can claim excess ITC.

Replies (4)

Quick Summary

This discussion clarifies that excess Input Tax Credit (ITC) for tours and travels businesses can only be claimed as a refund in specific scenarios, such as exports or inverted duty structures. ITC claims are generally restricted to what's available in GSTR-2B, with Section 17(5) also being a crucial consideration. Refunds are applied for via the services menu and may require supporting documents.

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 05 March 2023

ITC can be claimed based on GSTR-2B and beyond this will not be allowed

CA Raj Doshi

Practising CA

8954 Points Posted on 06 March 2023

Gst refund are applicable to certain categories like export without payment of tax, inverted duty structure etc. Only in those cases, it ispossible.

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 06 March 2023

You can file refund application through services menu.

You may need to submit supporting documents to Department.

You can also use the ITC for set off in the subsequent months