GST REFUND

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GST refund of ITC on capital goods in case of inverted duty structures.
can we claim the refund under the GST?
Replies (5)
Hi Ashuthosh

its available subject to few condition

For further details you can contact me at sthayin @ gmail

Wind Turbines & Services is a works contractor or not.

 

@ Ashutosh
No refund of ITC Available on capital goods in case IDS.

It has been clarified vide para 14 of Circular no.79/53/2018 & in Section 54(3) of CGST Act , Refund of Unutilised ITC may be claimed , where the credit accumulated on account of rate of tax on INPUTS being higher than the rate of tax on output supplies.

And As per Definition of INPUTS define in Section 2(59) : Input means goods other then Capital Goods .
So input does not includes Capital Goods , hence No refund can be claimed on same under IDS
Thanks for explanation
You are always welcome


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