GST refund

chandan Tiwari (Student CA IPC / IPCC) (214 Points)

30 July 2019

Greetings of the day everyone

My Input tax credit is more than output, Kindly let me guide whether can I take the refund of my ITC or not ?????

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6 Replies

Shweta Gupta (Assistant Manager) (224 Points)
Replied 30 July 2019

if your outward rate of tax is less then input rate of tax then you can file RFD01 under inverted duty tax structure. if this is the reason.

chandan Tiwari (Student CA IPC / IPCC) (214 Points)
Replied 30 July 2019

What if rate of tax is same but my sale is low that's why output tax is also less than input tax ???

Shweta Gupta (Assistant Manager) (224 Points)
Replied 30 July 2019

then there is no provision for taking refund of ITC

chandan Tiwari (Student CA IPC / IPCC) (214 Points)
Replied 30 July 2019

Okkk Ma'am .....Thank you

Ravi SADhiyan (Practice) (4510 Points)
Replied 30 July 2019

In your cases you can't apply for GST Refund

Anshul Jain (Professional) (190 Points)
Replied 30 July 2019

Yes, if your input is goods and the rate on your input is higher than your outward supply.

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