Satish asked 4 years ago
GST Refund on Excess ITC
Hi Sir/Madam
I want to know that about GST Refund on Excess ITC
Suppose a person get some service imported every month in india for furtherance of business of (Taxable value Rs.4,00,000).In this case he have to pay GST on reverse charge basis(GST@18%=72,000 every month) and get his input claimed.
Now he is a Exporting service without tax. The input remains in the Credit ledger every month accumulated in year around (₹8,64,000).
So can he get his excess itc refunded in inverted tax structure.
CA Nikhil M Jhanwar answered 4 years ago
You can claim refund of ITC under Export of services category. ITC refund cannot be claimed under Inverted Duty category
Satish
replied 4 years ago Hi Nikhil,
Thanks, a lot
CA Nikhil M Jhanwar answered 4 years ago
You can claim refund of ITC under Export of services category. ITC refund cannot be claimed under Inverted Duty category
Satish
replied 4 years ago Hi Nikhil,
Thanks, a lot
CA Nikhil M Jhanwar answered 4 years ago
You can claim refund of ITC under Export of services category. ITC refund cannot be claimed under Inverted Duty category
Satish
replied 4 years ago Hi Nikhil,
Thanks, a lot
