Refund of GST - TCS & MIsc. ITC
This query is : Resolved
Rakesh Sharma
(Querist)
07 July 2020
Dear Experts, one of my client is doing business through E-commerce operator and E-commerce operator - Amazon collect TCS and we file TCS return and amount of TCS goes to Cash Ledger. Whether he apply for refund this TCS amount.
Also he is doing trading & manufacturing. We want to do the below practice :-
Avail ITC received on services & take refund of balance ITC on goods. Is this practice is perfect or any other way to refund of ITC on purchased goods?
Kindly advise.
Rakesh Sharma
Also he is doing trading & manufacturing. We want to do the below practice :-
Avail ITC received on services & take refund of balance ITC on goods. Is this practice is perfect or any other way to refund of ITC on purchased goods?
Kindly advise.
Rakesh Sharma
CA Shubhi Khandelwal
(Expert)
07 July 2020
In respect of TCS, yes you can avail refund of the TCS amount as shown in the Cash Ledger.
Secondly, kindly verify whether the goods are capital goods or not and are the final goods exported out of India?
Secondly, kindly verify whether the goods are capital goods or not and are the final goods exported out of India?
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