Dear Experts
please clarify about refund of accumulated ITC due to GST rate difference in output and input as input rate is 12% and output is 5%.Can ask for refund if yes how and when.
thanks & regards
pawan jain
You can apply for refund due to inverted duty structure. The refund need to be applied on monthly basis after filing of monthy return 3B. It is to be applied online on the GST Portal and thereafter the documents to be submitted to the Department. The portal has in built sytem of calculation and you would know the actual amount allowable as refund on filling the figures.
Regards,
Rajeev Bhargav
rajeev @ rbhargav.com
CAclubindia
