Dear Panelists,
We are supplying goods to indigenous customers including Indian railway as well direct exports and through merchant exporters. We have got huge ITC accumulated due to supplies of goods to Railway way parts (HSN 8607) and supplies to merchant exporters @.1%.
Kindly advise whether we should file claim for refund under Head ' ITC accumulated due to inverted tax structure'.
Guidance Sought on Calculating ITC Refunds for Supplies to Merchant Exporters at 0.1% Rate Under Inverted Tax Structure A participant in a discussion forum inquired about claiming a refund for accumulated Input Tax Credit (ITC) due to an inverted tax structure from supplying goods to Indian Railways and merchant exporters at a 0.1% rate. A respondent referenced Circular No. 37/11/2018-GST and Notification 5/2017 CT (Rate), noting that a refund is not eligible for supplies to the railway. Other participants agreed with this assessment. The original inquirer requested further guidance on calculating refunds for goods supplied to merchant exporters at 0.1%. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
