Refund of gst rcm paid in case of export through lut

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Cost Accountant
30 Points Posted on 05 December 2018

Please reply Query

Suppose A Ltd. Imported raw material worth 1 Crore and cash Paid Reverse charge IGST 5% on material and 0.5% on ocean freight and takes input tax credit. After some time A Limited exported same material worth 1.5 Crore without payment of tax i.e. With LUT. Can A Ltd Claim IGST Refund on ITC accumulated due to RCM ? Is there any notification or circular ?

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On 05 December 2018 at 17:00 Report
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"Do the Right Thing...!!!"
77792 Points Posted on 05 December 2018
Why tax paid through RCM for Import of material...?!
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On 05 December 2018 at 20:55
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GST Practitioner
29904 Points Posted on 06 December 2018
Yes

There is no restriction

Refund is available for ITC and the definition of ITC u/s 2 includes tax paid under 9(3)/9(4)
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On 06 December 2018 at 12:10

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