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        Question 4 - Will unutilized ITC at the end of the financial year (after introduction of GST) be refunded?

        Faq On GST (2nd Edition) Dated 31.3.2017
        Chapter 14
        Refunds

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        Unutilized input tax credit is not refundable and must be carried forward to the next financial year for utilisation. Unutilized input tax credit at the end of the financial year is not refundable under the GST law and must be carried forward to the next financial year for utilisation against future tax liabilities.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Unutilized input tax credit is not refundable and must be carried forward to the next financial year for utilisation.

                                Unutilized input tax credit at the end of the financial year is not refundable under the GST law and must be carried forward to the next financial year for utilisation against future tax liabilities.


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