Quary Regarding ITC

CA Akshay Hiregange (Partner - Audit & Assistance)   (3105 Points)

02 December 2021  

0.1% is a merchant export transaction. 

Paying 5% on inward supplies makes you eligible against the credit. (subject to notification conditions & S17(5))

Inverted duty structure refunds should be possible. Refer Section 54 & rule 89. 

Refund is eligible suggest not to forego the benefit. Obtain a consultant of good standing and experience to enable the same. 

Similar concept - taxguru article - https://taxguru.in/goods-and-service-tax/gauhati-hc-ruling-refund-accumulated-itc-case-inverted-duty.H T M L 

Expect dispute in this regard.