My client providing water transport service of goods, mostly exempted service, so he wants to refund of accumulated itc...is it possible.
pl.guide me.
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Refund of ITC
Replies (5)
If it's outward supply is exempted supply any itc pertaining credit ledger which is accumulated it's not permit for refund
following circumstances permitted for refund
1 inverted structure duty
2 excess tax paid in cash ledger
3 zero realed
4 wrongly paid
following circumstances permitted for refund
1 inverted structure duty
2 excess tax paid in cash ledger
3 zero realed
4 wrongly paid
ITC OF INPUTS USED FOR GENERATING EXEMPT SALES IS NOT ELIGIBLE FOR REFUND.
No... You can't claim refund. Refund not available for exempted supplies...
ITC will be reversible...
ITC will be reversible...
No scope for refund of ITC in your case
Your not eligible to avail ITC
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