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)

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.