ITC Refund for Export of services

As an exporter of services, you're eligible to claim a refund of unutilized input tax credit (ITC). Here's guidance on filing a refund claim: Refund Claim Options: You have two options to claim a refund: 1. *Option 1: Claim refund of unutilized ITC on a proportionate basis*: - Calculate the proportion of unutilized ITC attributable to export services using the formula: (Export turnover of services / Total turnover) × Unutilized ITC - File the refund claim under Rule 89(4) of the CGST Rules, 2017. 2. *Option 2: Claim refund of ITC on inputs used for providing export services*: - Identify the inputs specifically used for providing export services. - Calculate the ITC attributable to these inputs. - File the refund claim under Rule 89(2)(c) of the CGST Rules, 2017. Documents and Information Required: To file a refund claim, you'll need: 1. *GSTR-3B and GSTR-1*: Ensure these returns are filed and reflect the correct ITC and export turnover. 2. *Table 6A of GSTR-1*: Report the export turnover and ITC claimed. 3. *Refund Application Form RFD-01*: Submit this form along with the required documents. 4. *Supporting Documents*: Attach documents, such as invoices, bank statements, and certificates of export. Additional Considerations: 1. *Time Limit*: File the refund claim within the prescribed time limit (usually 2 years from the date of export). 2. *Refund Processing*: The refund claim will be processed by the jurisdictional tax officer. 3. *Interest on Refund*: If the refund is delayed, you may be eligible for interest on the refund amount. Consult a GST practitioner or chartered accountant to ensure accurate calculation and filing of the refund claim.

Thanks a lot for your Guidline for Exports refund

GST law is drafting with utmost care, the refund formula will itself take care of it.
You need to consider full ITC in NET ITC at the time of computation of refund.

Exports and Refunds under GST:All you need to know

Explained in simple way in this video -
https://youtu.be/qU0rLgGJViM

For more details -
CA Sachin M Jain .8O975. l5447

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