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Refund of excess GST Input due rate difference
ABC is using difference categories of inputs for manufacturing. It's input are taxed at 5,12,18%. But 70% inputs are taxed at 5%. Output of it are taxed at 5% only. It have accumulated input tax due to rate difference. Can ABC claim refund of GST?
Replies (3)
Yes you can claim refund under inverted due to structure. in this category input goods tax rate is higher than output goods tax rate .
Yes, as per section 54 of the CGST act 2017 you can rightfully claim refund of accumulated ITC in case of Inverted duty structure. Note : NO ITC of capital goods will be allowed.
Further clarification on refund contact - CA SACHIN M JAIN | 8097515447 | casachinmjain @ gmail.com
Further clarification on refund contact - CA SACHIN M JAIN | 8097515447 | casachinmjain @ gmail.com
Yes, in case of inverted duty structure, you can apply for refund of the excess ITC being carried forward. .
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