TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Refund Process for Carry Forward Input Tax Credit Under GST: Key Factors and Conditions Explained</h1> The statutory provisions address the refund of carry forward Input Tax Credit (ITC) under the Goods and Services Tax (GST) framework. ITC may accumulate due to factors like inverted duty structure, stock accumulation, capital goods, and partial reverse charge mechanisms. The law suggests that refunds for accumulated ITC from stock or capital goods should be carried forward to the next tax period. For inverted duty structures, a cash refund may be granted post-audit, ensuring ITC matches purchase and sales statements. The process involves blocking ITC utilization at refund application submission. Refunds may apply to CGST, SGST, or IGST, contingent on the circumstances.
TaxTMI 
TaxTMI 
