Hemal, was wondering if it is possible to request for refund.. Not on account of export supply.. Possible reason will be that we would not be utilizing the credit because of no sales.. in such situation, whats the best solution?
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Refund of Gst
If taxable sale nil then you may apply for refund through bank with necessary proof for the same
No ..... of you are not making any supply & any ITC lying in Credit ledger cannot claim as refund.
(Refer Section 54 of CGST Act)
(Refer Section 54 of CGST Act)
@ Pankaj , so, how do i best utilize the ITC lying in Credit ledger since i am not using it against any output liability. Is there any time limit to utilize these?
No there is no time limit. You can utilize once you have outward supply.
@ aswathi, in the absence of any sales, no possibility of availing refund sir. you balance will remain forever in your electronic credit ledger.
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