25 January 2019
Refund of unutilized input tax credit can be claimed in the following two cases under GST:
1. Unutilized input tax credit on zero-rated goods/services on which no payment of tax was made can be claimed as refund. 2. Accumulation of unutilized ITC due to higher tax rate on inputs than the output supplies (other than zero-rated/exempted goods)
Any person claiming the refund of the GST tax should make an application within a period of two years from the relevant date using the Form GST RFD-01 electronically
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