Excess paid duty GST

[ramappa Nagappa]

whether excess paid duty in the previous F.Y. in the r/o cess,igst,cgst,and sgst can be taken back in our books of account and adjust the same for the current F.Y.on our own with out sought for refund.

AI Summary

Experts Agree: Excess GST Paid Should Be Refunded, Not Adjusted in Future Accounts Under CGST Act, 2017 A discussion on a forum addressed whether excess GST paid in the previous financial year can be adjusted in the current year's accounts without seeking a refund. One respondent suggested that claiming a refund is the appropriate course of action. Another detailed situations under the CGST Act, 2017, where a refund claim is applicable, including exports, supplies to SEZs, and excess payments due to mistakes. Another participant agreed that excess GST payments should not be adjusted against future payments and a refund should be claimed. The final participant supported the experts' views on seeking refunds.