CA Gaurav Ajit Potdar (Chartered Accountant) (846 Points)
30 November 2017Facts:
Output is taxable at say @ 28% & inward is taxable @ 18%, hence we are not required to make payment of GST instead the diference between 18% & 28% are accumulated in our Credit ledger which will not be utilised by us in the near future.
Query
Can we claim Refund of the said accumulated GST credit.
Ayyasamy
(GST Practitioner)
(346 Points)
Replied 30 November 2017
Situations Leading to Refund Claims:
The relevant date provision embodied in Section 54 of the CGST Act, 2017, provision contained in Section 77 of the CGST Act, 2017 and the requirement of submission of relevant documents as listed in Rule 1(2) of Refund Rules is an indicator of the various situations that may necessitate a refund claim. A claim for refund may arise on account of:
1. Export of goods or services
2. Supplies to SEZs units and developers
3. Deemed exports
4. Refund of taxes on purchase made by UN or embassies etc.
5. Refund arising on account of judgment, decree, order or direction of the Appellate Authority, Appellate Tribunal or any court
6. Refund of accumulated Input Tax Credit on account of inverted duty structure
7. Finalisation of provisional assessment
8. Refund of pre-deposit
9. Excess payment due to mistake
10. Refunds to International tourists of GST paid on goods in India and carried abroad at the time of their departure from India 11. Refund on account of issuance of refund vouchers for taxes paid on advances against which, goods or services have not been supplied
12. Refund of CGST & SGST paid by treating the supply as intraState supply which is subsequently held as inter-State supply and vice versa
Thus, practically every situation is covered. The GST law requires that every claim for refund is to be filed within 2 years from the relevant date.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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