Dear Experts,
We are manufacturer and exporter of taxable supply. We are exporting goods on payment of IGST.
Each month increasing GST ITC due to following reasons:
> We are paying GST 28% on inward supply and charging 18% on outward supply.
> Procurement of Plant and Machineries.
All of you request to suggest how can we get refund of Excess ITC.
Manufacturer seeks refund for excess GST Input Tax Credit under inverted duty structure; advised to refer to Circular No. 17/17/2017-GST. A manufacturer and exporter of taxable goods is facing an issue with increasing GST Input Tax Credit (ITC) due to paying 28% GST on inward supplies while charging 18% on outward supplies, along with costs related to plant and machinery procurement. They seek advice on obtaining a refund for the excess ITC. Two responses suggest that a refund is admissible: one advises referring to Circular No. 17/17/2017-GST for the procedure, and the other confirms eligibility for a refund under the inverted duty structure. (AI Summary)
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