Excess paid duty GST

[Guest]

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.

[Himansu Sekhar]

refund is the option

[YAGAY andSUN]

SITUATIONS LEADING TO REFUND CLAIMS
The relevant date provision embodied in Section 54 of the CGST Act, 2017, provision contained in Section 77 of the CGST Act, 2017 and the requirement of submission of relevant documents as listed in Rule 89(2) of CGST Rules, 2017 is an indicator of the various situations that may necessitate a refund claim. A claim for refund may arise on account of-
1. Export of Goods or services
2. Supplies to SEZs units and developers
3. Deemed Export supplies
4. Refund of taxes on purchase made by UN or embassies etc
5. Refund arising on account of judgment, decree, order or direction of the Appellate Authority, Appellate Tribunal or any court
6. Refund of accumulated Input Tax Credit on account of inverted duty structure
7. Finalisation of provisional assessment
8. Refund of pre-deposit
9. Excess payment due to mistake
10. Refunds to International tourists of GST paid on goods in India and carried abroad at the time of their departure from India
11. Refund on account of issuance of refund vouchers for taxes paid on advances against which goods or services have not been supplied
12. Refund of CGST & SGST paid by treating the supply as intra-State supply which is subsequently held as inter-State supply and vice versa.

[DR.MARIAPPAN GOVINDARAJAN]

In my view excess payment of GST cannot be adjusted against the future payment. Refund is to be claimed when there is excess payment.

[KASTURI SETHI]

I support the views of experts.

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.