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Refund of ITC

Dhaval Ramesh Gala (Article) (177 Points)

17 June 2020

I am providing export services under LUT. I have accumulated ITC . Under which refund head should I go to claim refund ??

Q2 : Can I claim refund of RCM accumulated ?? Again under which refund head I should claim ?

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7 Replies

PRATIK PATEL (139 Points)
Replied 17 June 2020

Hey Dhaval
you can claim Refund of ITC Accumulated under head: ITC on exports under letter of undertaking or bond

Further as per Circular 139/09/2020 Dated 10th June 2020 You can claim Refund of RCM Accumulated as well.

🙂

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Hemal Makwana (Designation) (771 Points)
Replied 17 June 2020

You can claim refund of accumulated ITC based on formula prescribed in cgst rules.
circular no. 139 merely clarifies that refund of ITC on acoc*nt of RCM payment can be claimed. however, even without this circular, supplier was always eligible to avail refund of such ITC

PRATIK PATEL (139 Points)
Replied 17 June 2020

Hemal yes RCM was eligible before
But CBIC issued Circular (135/05/2020 dated 31stMarch2020) which mentioned ITC which is shown in GSTR2A of applicant will only be eligible for refund due to which Dept is disallowed or rejecting the RCM ITC for refund.

Thus the circular mentioned above i.e. 139/09/2020 was issued to clarify and allow RCM, ISD and Imports ITC for refund even though not shown in GSTR 2A.

You can refer my blog on same for details- https://capratikpgst.blogspot.com/2020/06/gst-refund-clarification-dated-10th.H T M L

Dhaval Ramesh Gala (Article) (177 Points)
Replied 17 June 2020

Refund of unutilized input tax credit on account of exports without payment of tax .

I m filing refund under this head . For example if I am filing refund for tax period May 20 . In that case can I claim ITC accumulated of July 17 to till May 20 ???