I have made exports on LUT now while referring to rules and sections for ITC refund Section 54(3) (ii) i read that no refund of input tax credit shall be allowed, if the supplier of goods or services or both avails of drawback in respect of central tax.. I automatically receive a drawback of 0.20% from customs does this make me ineligable to claim ITC refund plz advice..
2 Replies
prakin singhal
(314 Points)
Replied 10 June 2018
If you want to claim ITC then only the net amount paid will be refunded, or in case of non utilization of ITC the whole of output tax liability is refunded. The .20% amount you received is provisional refund.
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