Erroneously refund claimed on capital goods

[suresh sathyamurthy]

While claiming refund on account of export erroneously refund has been claimed on capital input for the period 2017-18,

now during the GST audit error is been found

The company decided to refund the erroneous claim

After repaying the erroneous claim, can the company utilize capital input credit now for its future GST obligation.

If there is restriction in claiming the capital credit now , is it only on account of time bar or any other restriction, kindly clarify

AI Summary

Company Can Reclaim GST Input Credit After Repaying Erroneous Refund for 2017-18, No Time Bar Restrictions A company mistakenly claimed a GST refund on capital goods for the 2017-18 period during an export refund process. This error was discovered during a GST audit. The company plans to return the erroneous refund and inquires if they can now use the capital input credit for future GST obligations. Responses indicate that the company can reclaim the credit after repaying the refund, with no restrictions or time bar issues, as the original date of taking the credit is considered relevant. The discussion includes clarifications on whether the audit was conducted internally or by the department.