We are falling under Inverted Tax Structure and we have Balance in my GST Credit Ledger from July-2017. Can I claim the refund from July-2017 to Feb-2019 at once?
2 Replies
Nivedita
(SME - Finance)
(758 Points)
Replied 13 March 2019
Under Inverted Tax Structure- Maximum Refund Amount = {(Turnover of inverted rated supply of goods) x Net ITC ÷ Adjusted Total Turnover} - tax payable on such inverted rated supply of goods
ANIL
(ACCOUNTANT)
(50 Points)
Replied 13 March 2019
yes you can but please confirm with concerning authority how ITC to be taken in formula (ITC with expenses or without expenses).
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