Hemal, was wondering if it is possible to request for refund.. Not on account of export supply.. Possible reason will be that we would not be utilizing the credit because of no sales.. in such situation, whats the best solution?
Refund of Gst
Page no : 2
KRISSHNAN KP
(4215 Points)
Replied 17 June 2020
If taxable sale nil then you may apply for refund through bank with necessary proof for the same
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 19 June 2020
No ..... of you are not making any supply & any ITC lying in Credit ledger cannot claim as refund.
(Refer Section 54 of CGST Act)
(Refer Section 54 of CGST Act)
Aswathi
(accountant)
(65 Points)
Replied 19 June 2020
@ Pankaj , so, how do i best utilize the ITC lying in Credit ledger since i am not using it against any output liability. Is there any time limit to utilize these?
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 21 June 2020
No there is no time limit. You can utilize once you have outward supply.
Hemal Makwana
(Designation)
(771 Points)
Replied 21 June 2020
@ aswathi, in the absence of any sales, no possibility of availing refund sir. you balance will remain forever in your electronic credit ledger.
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