ITC Refund

[Kaustubh Karandikar]

XYZ had exported goods without payment of GST. They claimed refund of the accumulated ITC on account of continuous exports. The foreign customer in some cases had not paid the amount to XYZ against the supply either fully or partially. Is XYZ required proportionately reverse the refund of ITC claimed to the extent of payment not received from the foreign customer?

AI Summary

Does XYZ Need to Reverse ITC Refunds for Unpaid Export Goods? XYZ exported goods without paying GST and claimed a refund for the accumulated Input Tax Credit (ITC) due to continuous exports. However, in some instances, the foreign customer did not fully or partially pay XYZ for the supplied goods. The query raised was whether XYZ needs to proportionately reverse the ITC refund claimed based on the payments not received. The discussion included a reference to an article for further details, but no direct answer was provided in the forum.