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Refund on service input tax credit?
Can we take refund input tax credit on service When we sell goods or itc excess of seevices ?
Replies (2)
Refund of Input tax credit is not allowed.
You can allowed to set of your input tax credit against your output tax liability on sale of Goods.
Refund of ITC is allowed only for export of Goods and inverted duty structure goods.
You can allowed to set of your input tax credit against your output tax liability on sale of Goods.
Refund of ITC is allowed only for export of Goods and inverted duty structure goods.
Refund of ITC is not allowed. Under GST, what we do is to claim the Input Tax Credit ( ITC ) via our GST Returns ( FORM GSTR-3B ). Then that ITC can be used to off-set your Output Tax Liability.
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