Search results with tag "Refund of unutilised itc"
IN THE SUPREME COURT OF INDIA CIVIL …
main.sci.gov.in(iii) Section 54(3) does not restrict the entitlement of refund only to unutilised ITC which accumulated due is to the rate of tax on inputs being higher than the rate of tax on output supplies. It also allows for refund of unutilised ITC when the rate of tax on input services is higher than the rate of tax on output supplies ;
GST
www.cbic.gov.inperson may claim refund of unutilised input tax credit at the end of any tax period. A tax period is the period for which return is required to be furnished. Thus, a taxpayer can claim refund of unutilised ITC on monthly basis. Refund of unutilised input tax credit is allowed only in following two cases a) Zero rated supplies made without ...
CBEC-20/23/03/2020-GST Government of India Ministry of ...
www.cbic.gov.in4.2 Sub-rule (4) of Rule 89 prescribes the formula for computing the refund of unutilised ITC payable on account of zero-rated supplies made without payment of tax. The formula prescribed under Rule 89 (4) is reproduced below, as under:
Refund of Unutilised ITC GST - Central Board of Indirect ...
www.cbic.gov.inHowever, the GST Law permits refund of unutilised ITC in two scenarios, namely if such credit accumulation is on account of zero rated supplies or on account of inverted duty structure, subject to certain exceptions. As per Section 54(3) of the CGST Act, 2017, a registered person may claim refund of unutilised input tax credit at the end of any