Can refund of electronic credit legder be granted in bank account of registered person?
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Refund of electronic credit ledger
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Dear Mam,
ITC refund (electronic credit ledger) can only be claimed for zero rated supplies and inverted tax structure. Form GST rfd 01 has to be filed to get the refund in bank account
ITC refund (electronic credit ledger) can only be claimed for zero rated supplies and inverted tax structure. Form GST rfd 01 has to be filed to get the refund in bank account
Refund is always credited into Bank account of taxpayer . But Refund from Credit Ledger can be claimed only as per condition prescribed in Section 54 of CGST Act
Refund of CREDIT is allowed only in 2 cases
1. Zero rated supplies
2. Inverted Tax Structure
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