TaxTMI 
TaxTMI 
After exporting the goods under LUT and claimed refund for untilized ITC. As per formula refund amount comes to Rs. 50 Lacs but credit ledger balance at the end of the tax period (month in which the export took place) is ₹ 10 lacs only. Which amount I am eligible for refund of ITC, however as on today the credit ledger balance is ₹ 80 Lacs
refund of unutilized ITC under GST after export under LUT
09 Apr 2018 
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Unutilised input tax credit refund: statutory formula subject to credit ledger ceiling and relevant period limits under GST.
Refund of Unutilised Input Tax Credit on exports under bond or LUT is available for zero rated supplies and inverted duty structure; the refundable amount is calculated by the statutory refund formula but is subject to a ceiling equal to the input tax credit balance shown in the credit ledger at the end of the elected relevant tax period, and period clubbing is permitted only within the same financial year with reconciliation via the refund statement. (AI Summary)
Refund of Unutilised Input Tax Credit on exports under bond or LUT is available for zero rated supplies and inverted duty structure; the refundable amount is calculated by the statutory refund formula but is subject to a ceiling equal to the input tax credit balance shown in the credit ledger at the end of the elected relevant tax period, and period clubbing is permitted only within the same financial year with reconciliation via the refund statement. (AI Summary)