Accumulated ITC refund in case of Export

[Pankaj Aggarwal]

Sir,

We have taken the duty drawback at higher rate (All Industry Rate) now can we take refund of Accumulated ITC. (CGST & SGST)

[KASTURI SETHI]

Refund is admissible.

[Pankaj Aggarwal]

Thanks Sir for reply.

But now i have read in the notification ( Notification No. 73/2017-CUSTOMS (N.T.)) that ITC cannot availed if dutydrawback has taken at higher rate. pls solicit your views with regard to said notification

[KASTURI SETHI]

Dear Querist,

First of all elaborate your query with full facts. Secondly, read Notification No.73/17-CUS(NT) and 89/17-CU(NT) word for word viz-a-viz your query. There are conditions but it is not possible to reply without full facts of the issue. Hence elaborate.

[Kishan Barai]

When opted for a higher rate of DBK then ITC would not be available.

 

[YAGAY andSUN]

yes, this restriction was there for some period of time i.e. for 3 months at that time.

AI Summary

Higher Duty Drawback Rate Disqualifies Input Tax Credit Refund Under Specific GST Notification for Three-Month Period An individual inquired about the possibility of claiming a refund for accumulated Input Tax Credit (ITC) under the Goods and Services Tax (GST) after opting for a higher duty drawback rate. An expert initially confirmed the refund's admissibility. However, the inquirer later referenced a notification indicating that ITC cannot be availed with a higher duty drawback. Another expert advised reviewing specific notifications for detailed conditions, while a third confirmed that opting for a higher drawback rate disqualifies ITC availability. A final contributor noted that this restriction was applicable for a specific three-month period.