ITC refund under inverted duty

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Accountent
61 Points Posted on 03 December 2021
can I claim refund of itc accumulated due to inverted duty structure for manufacturers of readymade garments.
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On 03 December 2021 at 13:28 Report
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Quick Summary
Manufacturers of readymade garments can claim a refund of accumulated Input Tax Credit (ITC) if they fall under an inverted duty structure. This means the GST rate on your inputs is higher than the rate on your finished goods. To claim this refund, you will need to file form RFD-01.

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Employee Private
1913 Points Posted on 03 December 2021

Legally, yes you can claim refund by filing RFD-01.

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On 03 December 2021 at 16:17
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GST Consultant
15986 Points Posted on 03 December 2021

Yes you can claim refund if the gst rates of inputs is more than the gst rate of outputs 

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On 03 December 2021 at 22:18

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