REFUND UNDER GST -ELECTRONIC LEDGER
Vijay Sharma (175 Points)
23 August 2021
WHAT IS THE PROCESS TO TAKE REFUND OF EXCESS ITC IN ELECTRONIC LEDGER UNDER GST
3 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 23 August 2021
Refund can be applied through form RFD 01
Vijay Sharma
(175 Points)
Replied 23 August 2021
WHAT IS THE PROCESS I KNOW RFD01 FORM BUT WHAT IS THE PROCESS TO TAKE REFUND UNDER GST
VIKAS ESNAPURAM
(CA-JOB)
(226 Points)
Replied 23 August 2021
You are allowed to take credit for the amount only in case of Excess Balance in Electronic Cash Ledger and not of ITC unless it is an Inverted duty structure or deemed exports.
As you used the word ITC I think you are not talking about the balance in the cash ledger.
So if you come under Inverted duty structure or deemed exports the ITC can be claimed if not you cannot claim ITC.
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