30 April 2020
WE CLAIM REFUND OF EXCESS AVAILABLE IN THE ELECTRONIC CREDIT LEDGER. THE ECL BALANCE ONLY AVAILABLE IN SGST. IN THESE CIRCUMSTANCE HOW TO CLAIM IN THE REFUND. NO BALANCE IN CGST AND IGST. EXAMPLE : ECL BALANCE IN SGST Rs.300000.00. ELIGIBLE REFUND IS Rs.200000.00. WE HAVE CLAIM FULL AMOUNT I.E. Rs.200000.00 IN SGST OR ONLY Rs.100000.00. THE CGST BALANCE ARE OFFSET FOR OUTPUT TAX LIABILITY OF CGST AND IGST. PLEASE CLARIFY REGARDS/SR
30 April 2020
Use the calculation method sperately for each igst, cgst and sgst. Whatever amount comes in each of them will be the refund amount for respective taxes. I don't know your figures but if your calculation is correct most probably it will be 200000 on sgst
01 May 2020
Dear sir, As per master circular on refund, the lowest of following will be eligible refund amount: 1-amount As calculated as per formula under rule 89(5) of cgst rules 2-the balance in the ecl at end of tax period for which refund is being filed after filing gstr-3b of that tax period 3-the balance in the ecl at the time of filing refund application Based on above, the exact amount will quantify and will be ready for filing gst rfd-01. New restrictions in this regard have been imposed that in case of unutilized itc refund , suppliers invoices should reflect in gstr-2A. Very recently this has explained in the circular no. 135.
CAclubindia
