Sir, Kindly clarify.
It is to mention one taxpayer is filed two refund claims for the same month on the following types :
1. Refund of ITC unutilised on account of accumulation due to inverted tax structure
2. Refund of unutilised ITC on account of exports without payment of tax
The formula for calculating Refund for inverted tax structure the taxpayer has provided
Turnover of Inverted Tax Structure / Total Turnover * Net ITC (without Services/Capital) – Tax payable on Inverted = Total Refund Claim
The formula for calculating Refund for Exports without payment of Tax the taxpayer has provided
Turnover of Inverted Tax Structure / Total Turnover * Net ITC (without only Capital) = = Total Refund Claim
The taxpayer also taking the Drawback on some of the Shipping Bills
CGST office had already given the Refund on Inverted duty Structure
It is requested to clarify on the issue whether CGST office can refund of unutilised ITC on account of exports without payment of tax also.
Regards
CAclubindia
