Dear team
we are essaer fuel station dealer few days back we were purchases a lorry for the purpose of transportation. vehicle purchases at the time Sgst & Cgst both of tax collect Rs.4,00,000/- so such amount we will refund, please clarify above my doubt
3 Replies
Parvej akhtar
(Professional)
(105 Points)
Replied 25 July 2020
Refund of unutilized input tax credit can be claimed in the following two cases under GST:
Unutilized input tax credit on zero-rated goods/services on which no payment of tax was made can be claimed as refund.
Accumulation of unutilized ITC due to higher tax rate on inputs than the output supplies (other than zero-rated/exempted goods)
As your cases doesn't Fall under this head, you can't claim Refund
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 25 July 2020
You can not claim refund of ITC but it can be utilised to set of against your output tax liability in GST return.
annu Goyal
(1102 Points)
Replied 26 July 2020
No, you cannot take refund of such amount as refund is granted for such case under GST provision
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