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CAN GST REFUND BE CLAIMED

23 May 2021

I have a input bal of rs 4 lac of fy 18-19 which refund cant be taken now as time barred.I have done same sale and purchase in fy 19-20 year.can i suppose that my output liability of fy have been adjusted from input of fy 18-19 and input of fy019-20 can be claimed.

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6 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 23 May 2021

Yes ITC can be adjusted

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Maharshi Khamar (student) (22 Points)
Replied 23 May 2021

Yes... Subject to Refund of ITC due to Inverted Duty Structure.

Sivaramaraju G (Learner) (2398 Points)
Replied 23 May 2021

Yes you can, there is no time bar to utilize input tax credit against output tax.

Pavan biyyala (38 Points)
Replied 24 May 2021

Yes u can utilize

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 25 May 2021

Agree

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CA Puja Sharma (Chartered Accountant) (5010 Points)
Replied 25 May 2021

Yes, you can adjust your ITC of FY 2018-19 with output tax liability of FY 2019-20.

Further, refund is only allowed in case of exports or inverted duty structure. GST refund due to accumulated ITC is generally not a valid ground for refund application.