EXPERT I AM MUCH CONFUSE REGARDING REFUND IN CASE OF INVERTED DUTY STRUCTURE AS PER SECTION 54(3) IN CASE OF SERVICE PROVIDER OF RENTING A MOTOR VEHICLE.
SIR MY FRIEND PURCHASE A BUS AND PROVIDE FACILITIES TO A COMPANY FOR HIS EMPLOYEES.SIR HE PURCHASED BUS IN AUGUST 2017 WITH CHARGE GST @ 28% SIR HE IS PROVIDING SERVICE WITH CHARGE GST @ 5% (RENTING OF MOTOR VEHICLE) SIR HE HAVE ITC IN CREDIT LEDGER IN GST PORTAL AMOUNT IS APPROX 7 LAKH. SIR HE WANTS TO FILL GST RFD01 FOR CLAMING REFUND OF INVERTED DUTY STRUCTURE . BECAUSE HE PURCHASED BUS WITH GST CHARGE 28% AND PROVIDING SERVICE @ 5%. SO PLEASE TELL ME CAN HE APPLY FOR REFUND UNDER INVERTED DUTY STRUCTURE PLEASE REPLY????
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Regarding ITC ON INVERTED DUTY SUPPLIES REFUND IN BUS SERVICE PROVIDER
Replies (5)
No in case of supply of services Inverted tax structure is not applicable, hence can't file RFD 01a
than how I will get mt credit ledger amount ????
No way dear , it can only be adusted against your outward supplies .
Sir in section 54 (3) where it is mention that it cannot utilized for service ????
KINDLY READ THE SECTION 54 (3)(II)
WHERE THE CREDIT HAS ACCUMULATED ON ACCOUNT OF RATE OF TAX ON INPUTS BEING HIGHER THAN THE RATE OF OUPUT TAX
IN ABOVE READ THE DEFINATION OF INPUTS : AS PER SECTION 2(59) "INPUT" MEANS ANY GOODS OTHER THAN CAPITAL GOODS USED OR INTENDED TO BE USED BY A SUPPLIER IN THE COURSE OF BUSINES
HERE THE INPUTS DOES NOT INCLUDE THE SERVICE, HENCE NO REFUND IN CASE OF SERVICE SUPPLIED
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