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refund of itc
I am a manufacturer of fabrics. I Use to buy yarn at 12%gst. but after the weaving and process work I have to sell the fabric made from that yarn at 5%gst only. the gap of 7% Gst is being playing a impact on my capital.. so plz explain the process of refund in gst
Replies (3)
You can claim Refund in form RFD 01.
For more details you can click on the link below
https://cleartax.in/s/refund-claims-under-gst-for-tax-and-itc
Yes you can claim refund under Inverted Tax Structure (As per section 54) & File refd 01 on the portal
claim the refund by filing rfd 01 under inverted duty structure.
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