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refund of gst

13 January 2018

I m going to buy machinery for manufacturing final product I have paid 10 lacs GST on machinery but my final product is nil rated so can I get GST refund ????

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8 Replies

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 13 January 2018

No...
You can't get refund and ITC...

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Cma Mahesh Nakate (96 Points)
Replied 13 January 2018

why????

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 13 January 2018

Please read the details here https://cleartax.in/s/itc-rules-capital-goods-gst

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Amarjeet jasiwal (student) (147 Points)
Replied 13 January 2018

for claiming refund , you have to book ITC of machinery in ur books. But since your final product is exempted and you have nil output liability.. u r not fulfilling one of the condition to avail the ITC which says to avail the ITC ur output liabiliy must arise.And since u cannot book ITC , therefore u cannot claim refund of the same.

Balraj (Sr. Accountant) (17 Points)
Replied 13 January 2018

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Balraj (Sr. Accountant) (17 Points)
Replied 13 January 2018

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Balraj (Sr. Accountant) (17 Points)
Replied 13 January 2018

I am purchasing raw material with GST 18% (SS Sheets and etc ), Our Sales GST 5% to Supply to Railway Dept. HSN Code is 8607. Every Month 20 lakhs Input GST after adjustment of output GST Present 31.12.2017 closting GST is 95 Lakhs how to Refund please suggest me . (One doubt GST Notification is given GST when refund of ITC Not Allowed notification No. 05/2017 issued on 28.06.2017 HSN Code also mentioned )