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regarding refund
sir I have a brick manufacturing firm.i make brick and sold in the market.i have purchased cement which include tax @ 28 % but I sold the brick @ 5% tax. can I claim refund remaining balance
Replies (2)
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)
thus ur case fall in 2nd category file RFD-01 and claim refund..
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)
thus ur case fall in 2nd category file RFD-01 and claim refund..
your case falls under inadvertent tax structure. hence u can claim refund by filing GST RFD-1
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