Dealing in Packaging of Edible Oil tax @ 5℅, packing material recd @ 5℅, always have refundable position due to packaging materials and other Reverse Charge M etc. when we can get refund and how?
Refund of unutilized input tax credit can be claimed in the following two cases under GST: Unutilized input tax credit on zero-rated goods/services on which no payment of tax was made can be claimed as refund. Accumulation of unutilized ITC due to higher tax rate on inputs than the output supplies (other than zero-rated/exempted goods) No refund of unutilized ITC would be allowed under the following cases: f the unutilized ITC is for GST paid on goods exported out of India which attract excise duty. If the supplier of goods has availed duty drawback on the excise duty paid or claims the refund on the integrated tax paid on such supply. The application process for claiming refund shall include: (a) such documentary evidence as may be prescribed to establish that a refund is due to the applicant and (b) such documentary or other evidence, like the amount mentioned in tax invoice, as the applicant may furnish to establish the amount of tax and interest, if any, paid by the applicant and that he has not passed the tax burden to another person. If the amount of refund claimed is less than Rs 2 lakhs then the taxpayer can file an application based on documentary or other evidence but only by certifying that the incidence of such tax is not passed on to any other person.
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