The company availed itc on gst paid to vendor but then it was ascertained that there is no output liability.
in such case can the itc availed be reversed or can we apply for refund
3 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 02 April 2022
You may adjust in the upcoming months
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 02 April 2022
Either you reduce the liability in upcoming months. Or take refund in form of ITC
Ramesh Pinnaka
(2 Points)
Replied 03 April 2022
First we have to analyse the utilisation of ITC availed goods.
If u used the ITC availed goods to further supply as exports or to sez, then only u have eligible to get refund, or if u r in inadvertent tax structure or otherwise u r not eligible to get refund.
Recent Topics
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
- How to reverse wrong transaction payment in phonep
- Issue with refund for person who has filed for rel
- How to take ITC for October 2024 GST Payment in PM
- How to refund a wrong transaction Phone Pe?
- Avoiding tax audit in case of intraday equity loss
Related Threads
CAclubindia
