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Refund of Gst
what happened in that case where gst input is higher then gst output.....is he eligible for refund of extra Gst paid by him.....
Replies (20)
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.
Excess of claim ITC is available for adjustment
That means he has to increase the profit margin to cover his gst input.....when there is no option of tax adjustment......
thanks....
thanks....
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
let me know if I am wrong
Nature of business is manufacturing
What is output rate and input rate
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
inverted duty structure is the other name for it.
so with respect to above explanation you can claim refund of the same. @ vineetgupta
Input 18 % and output 3%
U can claim refund..
You can avail refund of ITC
Is it easy to claim refund....
Is Refund of ITC possible even if there has been no sales in last FY?
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.
Aswathi, pls specify your grounds of refund. Refund of ITC on account of export supply???
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