Can ITC refund be claimed incase of Export of goods under LUT bond but also the entity is registered with export Apparel Export Promotion Council( AEPC) wherein the exporter is eligible for duty drawback?
Incase ITC refund is not eligible then what about the accumulation of ITC balance in the credit ledger how to utilise the same since the major business is of exporting the goods.
ITC refund on exports without payment of tax
Replies (7)
Quick Summary
You can claim refund from department.
Most Export Promotion councils provide drawback by stating don't take gst benefit if already claimed from department. So there will be non compliance by for export promotion council. In gst law there is no such restrictions.
Most Export Promotion councils provide drawback by stating don't take gst benefit if already claimed from department. So there will be non compliance by for export promotion council. In gst law there is no such restrictions.
It has been started that, if the supplier avails drawback in respect of Central tax he cannot claim refund of unutilized ITC
Yes if you claim refund you will be non complying with export promotion council.
Therefore either you claim full refund from department and return central tax portion claimed from promotion council to the council.
Or you only claim sgst itc from department.
You will need to calculate which is beneficial.
Such person has an option to either claim itc refund or duty drawback
But only 1 option can be exercised either refund or duty draw back
But only 1 option can be exercised either refund or duty draw back
| Originally posted by : Karan Prajapati | ||
 |
It has been started that, if the supplier avails drawback in respect of Central tax he cannot claim refund of unutilized ITC |  |
It's there since initial period
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