REFUND ON DEEMED EXPORT
This query is : Resolved
02 April 2020
Under Deemed Exports , which amount is *refunded to supplier* of Deemed Exports If *ITC is not taken by receipent* ......is it refund of IGST Paid or refund of unutilised ITC on Inputs used for making supplies?? whether this turnover is called turnover of supplies on which refund claimed under rule 89 (4A) ??
06 April 2020
The refund will be on unutilized ITC on the input tax credit.
For calculating refund under Rule 89(4) - turnover means the value of export OTHER THAN supplies in respect of which refund claim under [89(4A) & 89(4B ) ]deemed export
For calculating refund under Rule 89(4) - turnover means the value of export OTHER THAN supplies in respect of which refund claim under [89(4A) & 89(4B ) ]deemed export
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