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Refund of Gst

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9 Points Posted on 17 June 2020
what happened in that case where gst input is higher then gst output.....is he eligible for refund of extra Gst paid by him.....
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On 17 June 2020 at 00:15 Report
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157 Points Posted on 17 June 2020
No sir, you can't claim refund of Extra GST paid, But you can adjust your input with your output tax liability, which may arise in future.
1 Reply
On 17 June 2020 at 01:13
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4215 Points Posted on 17 June 2020
Excess of claim ITC is available for adjustment
12 Reply
On 17 June 2020 at 07:09
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9 Points Posted on 17 June 2020
That means he has to increase the profit margin to cover his gst input.....when there is no option of tax adjustment......
thanks....
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On 17 June 2020 at 08:52
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Designation
771 Points Posted on 17 June 2020
All experts , just one thought. Can't he opt for refund claim under inverted duty structure? Firstly need to understand nature of business.. whether he is eligible.

let me know if I am wrong
3 Reply
On 17 June 2020 at 09:02
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9 Points Posted on 17 June 2020
Nature of business is manufacturing
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On 17 June 2020 at 09:07
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Designation
771 Points Posted on 17 June 2020
What is output rate and input rate
3 Reply
On 17 June 2020 at 09:09
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CA
153 Points Posted on 17 June 2020
According to section 54(3) of CGST Act , accumulated ITC can be claimed as refund for the supplies other than exempted supplies.
inverted duty structure is the other name for it.
so with respect to above explanation you can claim refund of the same. @ vineetgupta
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On 17 June 2020 at 09:20
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9 Points Posted on 17 June 2020
Input 18 % and output 3%
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On 17 June 2020 at 09:23
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CA
153 Points Posted on 17 June 2020
U can claim refund..
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On 17 June 2020 at 09:24
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Designation
771 Points Posted on 17 June 2020
You can avail refund of ITC
3 Reply
On 17 June 2020 at 09:25
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9 Points Posted on 17 June 2020
Is it easy to claim refund....
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On 17 June 2020 at 09:27
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accountant
65 Points Posted on 17 June 2020

Is Refund of ITC possible even if there has been no sales in last FY?

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On 17 June 2020 at 10:55
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Sr. Accounts & Finance Executive
7 Points Posted on 17 June 2020

Hi,

I want to know one thing that if the Taxpayer adjusted all input with output GST and last he has to pay suppose 1 lakh to govt., and he dont have money to payment ( tax or Any charges ) then in this case what happened.

 

Please help on this.

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On 17 June 2020 at 12:19
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Designation
771 Points Posted on 17 June 2020
Aswathi, pls specify your grounds of refund. Refund of ITC on account of export supply???
3 Reply
On 17 June 2020 at 12:58


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