Unused Itc claim

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264 Points Posted on 17 July 2023
As on 31/03/2023,my unused ITC is Apx Rs. 5,00,000/-.
I hv sale 1.5% and purchase 1.5%,
Can I claim unused ITC.
My CA told if ur purchase rate higher than sale rate ,then u can claim either not .
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On 17 July 2023 at 23:12 Report
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Quick Summary
This discussion clarifies whether you can claim a refund for unused Input Tax Credit (ITC). The consensus is that if your purchase rate is higher than your sale rate, you generally cannot claim a refund for the unused ITC. This is a common query for businesses managing their tax liabilities.

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Accounts Service
331 Points Posted on 18 July 2023
Your CA is correct answer.
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On 18 July 2023 at 06:15
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"Do the Right Thing...!!!"
128157 Points Posted on 18 July 2023
Yes, I agreed with Mr Rohit Bhatia...

You can't claim refund for that unused ITC.
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On 18 July 2023 at 06:25

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