NET ITC clarify

Originally posted by : Sakthivel K
	in the refund formula of inverted GST structure....NET ITC is confusing...is it the sum of all ITC of the period irrespective of their rates of all raw materials/spares..

Yes it is total ITC excluding input service and capital goods.

Yes you are right, but it is an old flyer. Earlier there was no restriction on it but if you refer to Circular no-79/53/2018-GST, it is clearly mention in the point no-14 Inputs do not include services and capital goods.

We are also into claiming the refund on account of Inverted duty structure, input service and capital goods are not allowed.