GST Refund on zero rated supplies

[Ram Sharma]

While claimng 'Refund of unutilised input tax credit on zero rated supplies',

Can we take refund of input tax credit on those input services which are capitalised with the value of capital goods in books of accounts?

AI Summary

Debate on ITC Refunds: Can Unutilized Input Tax Credit Include Capital Goods Under CGST Act and Rule 89? A discussion on a forum addresses whether a refund of unutilized input tax credit (ITC) on zero-rated supplies can include input services capitalized with capital goods. One participant argues that ITC can be claimed if the input is not capitalized, while another disagrees, stating that refunds are not applicable for capital goods. References to the CGST Act and Rule 89 are made to support differing interpretations. Some participants emphasize that refunds should only apply to inputs used for zero-rated supplies, excluding capital goods. The conversation highlights confusion and differing opinions on the applicability of ITC refunds for capital goods.